This is an excellent MUST READ article by Thomas Palley, published in the Social Journal Europe . Check it out!
This article filled in a lot of gaps for me in why White House favorite, Larry Summers, is probably not right candidate for the post. Summers comes across to me as arrogant. I respect his academic credentials but as a seasoned policy-maker, he has made some serious mistakes. The role of chairperson requires diplomacy, tact and consensus building, all qualities where Summers record is not perfect.
I can still see the financial markets reacting negatively to any uncertainty over this appointment, especially if President Obama takes too long to make the announcement; or imagine if the Republicans reject or push back on the decision.
- Research report on monetary policy after the crisis by Thomas Palley (weapedagogy.wordpress.com)
- VIDEO: The Power Behind the Throne at the Federal Reserve (marketcurator.com)
- New Federal Reserve chairman contender has ties to KC (bizjournals.com)
- Obama-Fueled Speculation on Fed Pick a Political Circus (bloomberg.com)
- Senate Democrats Push Janet Yellen Over Larry Summers to Lead the Federal Reserve (fdlaction.firedoglake.com)
- Obama gives Larry Summers ‘full-throated’ defense as dissenters push Janet Yellen for Fed chief (dailykos.com)
- Despite his ruinous misjudgments, Larry Summers still thinks he’s the smartest guy in the room (dailykos.com)
- Your Weekend Barbecue Guide to the Fed Chair Debate (theatlanticwire.com)
- What Does Obama See in Larry Summers? (washingtonmonthly.com)
- Senate Dems push White House to appoint Janet Yellen (and not Larry Summers) to the Fed (washingtonpost.com)