Relevant:
- Larry Summers looks set to pip Janet Yellen at the post to take over from Ben Bernanke as head of the US Fed
- Geithner Has Support of Obama, Democratic Lawmakers, Aides Say
- A Surprise Ending for Larry Summers and the Fed?
- Larry Summers: "Goldman Sacked" - Greg Palast
- Fed's Vice Chairman Admits Fed Has No Exit Strategy
2013-09-15 — wsj.com
"I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation's ongoing economic recovery," Mr. Summers said in a letter to the president that followed the telephone call.
The move forces Mr. Obama to look to other potential candidates for the Fed job including Janet Yellen, the Fed's vice chairwoman; Donald Kohn, a former vice chairman; and former Treasury Secretary Timothy Geithner. Mr. Obama has said that he interviewed the first two. Mr. Geithner has said he isn't interested.
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