Yellen losing Fed nod could have more to do with 2016 than Summers

Reports yesterday that Larry Summers is the front-runner for Bernanke’s job have irked some who were hoping Yellen would be the first female Fed Chair.

The decision might be about gender but not in the way you think. Democrats hoping to place Hilary Clinton in the White House might think it’s a bridge too far to elect the first female President at the same time as Yellen leading the Fed.

I tend to think the White House is looking for the best person for the economy but that might be naive in the cold, calculated world of US politics. In any case, Reuters cites a source close to Obama saying the president hasn’t made up his mind.

What Larry Summers may look like as Fed Chairman

What Larry Summers may look like as Fed Chairman

Author: Adam Button

Adam Button is the editor of ForexLive™. He was previously the chief currency strategist at XForex and has also worked with Intermarket Strategy. Adam believes deeply in the value of knowing every tidbit of news. He has a background in journalism and was formerly the head of the markets team at the Canadian Economic Press. He is a graduate of Ryerson University and completed Level 1 of the CFA program. Adam lives in Montreal, follow him on Twitter: @FX_Button.

6 Comments

  1. Do Democrats hoping to place Hilary Clinton in the White House think the voters are still misogynists? How do they explain Sarah Palin’s popularity?

  2. I don’t think Palin did the republicans any favors

  3. Hillary ,is getting ready for a run in 2016. The statement made by Hillary “What difference does makes ” will be forgotten.She will finish the job of turning the US into a European type of central government planing ,and if you have any assets ,plans to have them redistributed away for the so called common good. America .it was good while it lasted.

  4. I agree with you. I just can’t think of any reason, other than voter misogyny, why they’d be worried about having other women in senior positions. Palin’s target audience was the last bastion of misogyny – rednecks. But the gun-toting hicks loved Palin. Maybe there’s something I’m missing an outsider looking in, but I got the impression that middle America was beyond that (hence Obama, who’s not exactly WASPish), and that Yellen’s presence wouldn’t matter. Yellen notwithstanding, most of the top quasi-government jobs would still be pretty male dominated.

  5. Obama has absolutely no say on who heads the FED, the banking elites choose who will spear head this ponzy scheme that is stealthily destroying the American economy.

  6. Brains and braun are needed at the Federal Reserve. And here’s the worthy choice: James George Janos (born July 15, 1951), better known by his stage name, Jesse Ventura, is an American politician, actor, author, veteran, and former professional wrestler who served as the 38th Governor of Minnesota from 1999 to 2003.
    Ventura served as a U.S. Navy Underwater Demolition Team member during the Vietnam War, says Wiki. After leaving the military, he embarked on a professional wrestling career from 1975 to 1986, taking the stage name Jesse “The Body” Ventura. While involved with wrestling, Ventura also pursued a film career, appearing in films such as 1987′s Predator.
    Ventura first entered politics as Mayor of Brooklyn Park, Minnesota from 1991 to 1995. Four years after his mayoral term ended, Ventura was the Reform Party candidate in the Minnesota gubernatorial election of 1998, running a low-budget campaign centered on grassroots events and unusual ads that urged citizens not to “vote for politics as usual”. Ventura unexpectedly defeated both the Democratic and Republican candidates.
    As governor, Ventura oversaw reforms of Minnesota’s property tax as well as the state’s first sales tax rebate. Other initiatives taken under Ventura included construction of the METRO Blue Line light rail in the Minneapolis–Saint Paul metropolitan area, and cuts in income taxes.
    Ventura left office in 2003, deciding not to run for reelection. After leaving office, Ventura became a visiting fellow at Harvard University’s John F. Kennedy School of Government in 2004.

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