The Washington Post reports that Right now, Larry Summers is the front-runner for Fed chair
People dismissed Summers’s chances a month or two ago, but he’s increasingly viewed as the leading candidate today — and opinions on this, for reasons I don’t fully understand, have really hardened in the last 72 hours. After conversations with plugged-in sources both inside and outside the process, here’s what’s behind the changing odds:
- Obama like Summers
- Yellen and Summers are both viewed favourably due to their support for the Fed’s dual mandate
- Obama is comfortable working with Summers in a crisis
- Feeling that markets trust Summers more so than Yellen
More at the article.
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And no wonder the USD is weakening …
