Friday, August 23, 2013

Larry Summers Decided to 'Take Off the Gloves' in Fed Chair Campaign

Former Treasury Secretary Larry Summers, who has been hanging out in Cape Cod all summer, did not want to campaign for Federal Reserve chair at first. According to The Washington Post's Zachary A. Goldfarb, Summers told his friends "no lobbying" when his name was first batted around to replace Ben Bernanke. Now, Summers has decided to "take off the gloves," and has instructed friends and former colleagues to counter attacks against him.
So far, Summers has had a rough go of it. Janet Yellen, his main competition for the Fed chair post, has had vocal supporters since day one. About a third of Democratic senators, including Dick Durbin and Dianne Feinstein, wrote President Obama a letter in late July urging him to pick Yellen. Polls show that economists think Yellen is the best and most likely choice to chair the Fed. Even Republicans, like Senator Pat Roberts, have come out and said they prefer Yellen over Summers (not that they really like either of them).

http://www.theatlanticwire.com/politics/2013/08/larry-summers-decided-take-gloves/68569/ 

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