Oppenheimer Funds chief economist Jerry Webman says Summers’ appointment to chair of the Federal Reserve ‘could create the appearance of partisanship in the conduct of monetary policy':
I have no doubt that Larry Summers, if he is chosen, has the knowledge and experience needed to lead the Fed effectively, and he certainly has proven willing to take unpopular stands. But the favorite candidate of the White House staff – honorable folks though they may be – will struggle to overcome critics who see him as the ‘President’s Man’ rather than the neutral arbiter of monetary policy and, with increasing importance, financial regulation.
Full article at Reuters
Hide my lunch, Larry’s here!
