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.