A sad ending to Summers versus Yellen
Larry Summers withdrew from consideration to head the Federal Reserve in the next four years on September 15, even though he appeared to be President Barack's Obama's choice. Setting aside the qualification issues regarding Summers and Janet Yellen, the two widely regarded top candidates for the Fed chair, this is a sad day for central banking. This is not an issue of relative qualifications, but one of tactics and perception used and created by Yellen supporters.
Yellen backers are elated, but
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