President Barack Obama "essentially fired" Fed Chairman Ben Bernanke in televised remarks this week, former Federal Reserve Governor Laurence Meyer said Tuesday.

"I almost fell off my chair when I heard the president's remarks last night," he said on CNBC's "Fast Money."

"He essentially fired Ben Bernanke on the spot and gave him a fairly tepid testimonial afterward. It's time to really now focus on who the next chairman might be."