Photo courtesy LARRYSUMMERS.COM

Summers pulls name from consideration for Fed chief

Posted online September 16, 2013 | 6:18 am

Amid opposition, Lawrence Summers pulled his name from consideration for the Federal Reserve chairmanship, according to the New York Times.

Summers, an economist favored by President Obama, would have succeeded Ben Bernanke as head of the Fed.

Obama also is reportedly considering Janet L. Yellen, vice chairwoman of the Fed, for the position.

Read more at the New York Times.

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