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In reply to the discussion: Obama to nominate Summers as Fed chief: Nikkei [View all]n2doc
(47,953 posts)Its no secret Larry Summers is the front runner to become the next Fed chief, but the White House denied a report on Friday that suggested the brilliant economist should already be ordering new business cards.
No decisions have been made on a Fed appointment, a senior administration official told FOX Business.
The comments come in response to a story in Japanese news agency Nikkei, which reported President Obama is going to name Summers as Ben Bernankes replacement at the Federal Reserve.
The report, which cited unnamed sources, said the White House is expected to unveil the move as early as next week.
Obama is also set to name Lael Brainard, who currently serves as Treasury undersecretary, as the Feds new vice chairman, Nikkei reported.
Read more: http://www.foxbusiness.com/business-leaders/2013/09/13/fed-chief-summers-white-house-says-not-so-fast/