larry summers fed
The meeting foreshadowed what would be a multi-year crash between lofty goals of a hope-filled campaign and sharp realities
While defending Summers, Clinton also praised for Janet Yellen, who is now the front-runner to take over the top job at the
This week should remove any doubt about whether markets are highly dependent on the Fed. They sure are. Indeed, you could not have constructed better conditions for a controlled experiment. Yet, ironically, the medium-term investment stakes are now higher.
This comes after former Treasury Secretary Larry Summers withdrew his name from consideration for the nomination on Sunday
On top of the uncertainty about what Summers would do as Fed chair, there was the uncertainty about whether he would even
Looking backwards at this debacle, it's clear that Obama's economic team did not serve him well, either substantively or tactically. Summers as chair of the Fed was always going to be a lightning rod, because of his temperament, his sketchy record as president of Harvard, his close association with the deregulation that invited the financial collapse, and the high-profile consulting gigs on Wall Street that he took since leaving government in 2010. Tactically, what unfolded in August and September was bizarre. Instead of the administration vetting Summers for hidden confirmation problems, deciding that he was an acceptable risk, and Obama announcing the appointment, what we got was a slow drip of leaks that Summers was the president's first choice. But that only served to rally Summers' opposition. It would have been much more difficult for opposition within the Democratic Party to fester if Obama had simply announced his choice.
As I said all along, we have had two strong candidates. Let's hope the president now turns to Janet Yellen, who I believe would make an excellent Fed chairperson.
The anti-Wall Street sentiment bodes ill for the sector: It serves to pressure lawmakers and regulators into further restraining
WASHINGTON -- Sen. Jon Tester (D-Mont.) will vote against Larry Summers if President Barack Obama nominates his former economic
Sen. Pat Roberts (R-Kan.) told reporters in August that he wouldn't trust Summers to mow his lawn. WASHINGTON -- John Cornyn
Isakson is the latest senator to express concerns about Summers in what has become an unusual public debate on the merits
Many outside observers believe Summers' close association with Obama makes him the favorite, and the suggestion that Obama
For her part, Warren is trying to reinstate a modern version of the Glass-Steagall Act - the 1933 law that barred banks from
Summers, though, scoffed at Davis's suspicions, according to Eichenwald. The book details how together with then-Fed Chairman
In answer to the question, "Why on earth should Larry Summers be chairman of the Federal Reserve?" his supporters usually allege that he is great in a crisis. Whether you believe that depends on your definition of "great." In fact, there is plenty of evidence that Larry Summers is actually kind of terrible in a crisis.
The Huffington Post's Jennifer Bendery and Sabrina Siddiqui reported: According to the Times, the White House asked Geithner
Sandberg, who served as Summers' chief of staff when he was Treasury Secretary under Bill Clinton, noted that he gave a speech
A week ago, a carefully orchestrated series of leaks signaled that President Obama was on the verge of naming Larry Summers to succeed Ben Bernanke as chair of the Federal Reserve. Now, a massive backlash from Senate Democrats makes Summers' appointment something of a long shot.
The move puts Warren in agreement with many on Wall Street and against President Barack Obama, who is believed to want Larry