Fed Vice Chairman Janet Yellen is the leading candidate to replace Ben S. Bernanke following the withdrawal of Lawrence Summers from consideration, a person familiar with the process said.
In March 2009, a newly sworn-in President Barack Obama faced a choice that split his advisers as they tried to stanch a hemorrhaging economy: Should he bail out Chrysler or let the automaker die?
"When I put forward secular stagnation, it was not to say that we were permanently doomed never to have a good month."
- Lawrence Summers on Dec 05, 2014
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Jared Bernstein Discusses Contenders to Lead Fed
Levitt Says Race to Replace Ben Bernanke Is `Ugly’
Summers Said to Be Leaving White House After Election