Larry Summers, rumored to be President Obama‚??s first choice for next Federal Reserve chair, publicly withdrew his name from consideration on Sunday. “Whenever people would say the White House really wants Larry Summers, I would say ‚?¶ who’s their second choice,” Tony Fratto, former White House press secretary in the George W. Bush administration, said, “because the opposition to him was deep and personal, and at some levels very vicious.” Janet Yellen, currently serving as vice chair of the Federal Reserve Board of Governors, is seen by many to be that natural second choice. However, Ben Bernanke, the current chair, has not yet announced his post-Fed plans, and Fratto speculated that he might be nominated for a third term.
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