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Response to Tansy_Gold (Original post)

Tue Aug 27, 2013, 06:11 AM

15. CNBC: Larry Summers Is Likely To Be Named Chairman Of The Fed In A Few Weeks

http://www.businessinsider.com/larry-summers-to-be-named-fed-chair-2013-8

A source from Team Obama told CNBC that Larry Summers will likely be named chairman of the Federal Reserve in a few weeks though he is "still being vetted" so it might take a little longer.
It's largely come down to a two-horse race between Summers, a former Treasury secretary, and Fed Vice Chairman Janet Yellen for the next Fed chief.

It is widely expected that the current Fed Chairman Ben Bernanke will resign by the end of the year as his term ends in January. President Obama has already said that Bernanke has "already stayed a lot longer" in the role than he expected. Those remarks came in an interview with Charlie Rose on PBS in June.

Who might take the reins from Bernanke has been an undertone in the market and at the Fed's recent meeting in Jackson Hole, Wyoming.



Read more: http://www.cnbc.com/id/100988773#ixzz2dAA5nlL4

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