The Obama administration is assembling a short list of candidates for the Federal Reserve chairmanship, in the event that Ben Bernanke won't seek reappointment when his second term ends in January, according to people familiar with the matter, The Wall Street Journal reports.

People familiar with the process wouldn't divulge any names on the short list, but said there was no front-runner. The White House is still in an early stage of the process and might not announce its selection until the early fall, they said.