"I'm tired after 45 years — emotionally — and I'm ready for change," Frank added.

Speculation has it that Kerry could join the administration as either secretary of Defense or secretary of State, in which case some believe Sen. Scott Brown (R-Mass.) might run for Kerry's seat. Brown lost his seat earlier this month to Sen.-elect Elizabeth WarrenElizabeth Ann WarrenTrump's SEC may negate investors' ability to fight securities fraud Schatz's ignorance of our Anglo-American legal heritage illustrates problem with government Dems ponder gender politics of 2020 nominee MORE (D).

Frank dismissed the idea of running, and also deflected questions about whether he could beat Brown in a Senate race.

"That's not a relevant question," he told the Globe. "That's just hot-stove nonsense."

Frank reiterated that he wants to use his time away from Congress — the first he's had in 45 years — to write and speak about public policy and to teach.