Seeking Alpha

Summers' Fed nomination looking a bit more likely

  • The chances of Larry Summers winning out over Janet Yellen for the top spot at the Fed increase a bit more as the Obama administration - getting ahead of criticism about a lack of gender diversity atop the central bank - lets leak the likely nomination of Lael Brainard to fill one of two vacant seats on the Fed's board of governors.
  • Brainard is one of the most highly ranked female members of the President's economic team - she's currently undersecretary for international affairs at Treasury.
  • The WSJ reported earlier this weekend at least 3 Democrats on the Senate Banking Committee are expected to oppose Summers' nomination, meaning Republican support would be necessary to move his appointment forward.
Comments (1)
  • Coalfan
    , contributor
    Comments (57) | Send Message
    God help us.
    America has 330 million people and a friend of the repulsive robert rubin will be chosen.
    9 Sep 2013, 05:08 AM Reply Like
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