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?
"All of you who are central bank independence freaks need to get yourself around a very odd feature of the current political dynamic."
- Lawrence Summers on Sep 30, 2014
Levitt Says Obama May Skip Over Yellen for Fed
Dean Baker Sees Tough Path to Fed for Summers
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