Larry Summers withdraws name from Fed consideration
From washingtonpost.com
Former White House economic adviser and Treasury secretary Lawrence H. Summers has withdrawn his name as a candidate for Federal Reserve chairman, a person familiar with the matter said Sunday. President Obama had been strongly considering naming Summers to the post after their long experience fighting the financial crisis and recession. The decision may mean that another top candidate, current Federal Reserve vice chairman Janet Yellen, will get the job, or another candidate. Summers faced an uproar of Democratic opposition over the past few weeks as his name circulated as Obama’s top pick, including multiple ...
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