Federal Reserve Chairmanship still up for grabs; Summers says NoSubmitted by SteveMT on Sun, 09/15/2013 - 16:44
Imagine Ron Paul appointed as Fed. Chairman!
Summers withdraws his name for Fed chair: Report
Sunday, 15 Sep 2013 | 4:34 PM ET
Former U.S. Treasury Secretary Larry Summers has withdrawn his name for consideration to succeed Ben Bernanke as Federal Reserve chairman, Dow Jones Newswires reported.
Summers called the President Obama on Sunday to notify him, according to the report.
"I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation's ongoing economic recovery," Mr. Summers is quoted as saying in a letter to the president following the call.