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Larry Summers Federal Reserve

Why Workers Would Do Better with Janet Yellen as Fed Chair

Jeff Madrick | Posted 11.17.2013 | Business
Jeff Madrick

The stock and bond markets should not be the only ones rejoicing at Larry Summers's withdrawal from consideration to run the Federal Reserve. The nation's workers should, too. Janet Yellen, the remaining frontrunner for the position, is no wimp on inflation.

Ryan Grim

How A Progressive-Populist Coalition Sank Larry Summers | Ryan Grim | Posted 09.16.2013 | Politics

WASHINGTON -- A progressive-populist coalition fueled by women's groups and high-end donors was responsible for undoing President Barack Obama's bid t...

GOP Senator Won't Vote For Janet Yellen, Even Though She's Better Than Larry Summers

The Huffington Post | Amanda Terkel | Posted 08.21.2013 | Politics

Sen. Pat Roberts (R-Kan.) would prefer Janet Yellen to Larry Summers to lead the Federal Reserve, but he still intends to vote against her if Presiden...

Jennifer Bendery

Former Reagan Adviser Backs Janet Yellen For Fed Chair | Jennifer Bendery | Posted 08.21.2013 | Politics

WASHINGTON -- For the sake of the economy, President Barack Obama should nominate Janet Yellen to chair the Federal Reserve and the Senate should conf...

Amanda Terkel

GOP Senator Backs Janet Yellen: 'I Wouldn't Want Larry Summers To Mow My Yard' | Amanda Terkel | Posted 08.21.2013 | Politics

Sen. Pat Roberts (R-Kan.) said on Monday that he would support Federal Reserve Vice Chair Janet Yellen as the board's next chair, making him the first...

Amanda Terkel

Larry Summers Clashed With African-American Scholars At Harvard | Amanda Terkel | Posted 08.06.2013 | Politics

WASHINGTON -- As a top contender to become the next Federal Reserve chairman, economist Larry Summers has reemerged for scrutiny for his time as Harva...

Mark Gongloff

Larry Summers Defended Enron | Mark Gongloff | Posted 08.05.2013 | Business

Here's something else to add to the long list of reasons Larry Summers would make a terrible Federal Reserve chairman: He reportedly told California t...

Sam Stein

Everyone Has An Opinion On Larry Summers | Sam Stein | Posted 08.02.2013 | Politics

WASHINGTON -- President Barack Obama says his former top economic adviser and prospective nominee for Federal Reserve Chair Larry Summers has been mis...

Amanda Terkel

Majority Of House Democratic Women Tell Obama To Nominate Janet Yellen For Fed Chair | Amanda Terkel | Posted 07.31.2013 | Politics

WASHINGTON -- A majority of the Democratic women serving in the House of Representatives are urging President Barack Obama to nominate Janet Yellen as...

Jennifer Bendery

Obama Defends Larry Summers, Disses HuffPost In Capitol Hill Meeting | Jennifer Bendery | Posted 08.01.2013 | Politics

WASHINGTON -- President Barack Obama gave a "full-throated defense" of Larry Summers in a closed meeting with House Democrats Wednesday, according to ...

Warren Reportedly Backs Yellen To Lead Fed

The Huffington Post | Paige Lavender | Posted 07.29.2013 | Politics

Sen. Elizabeth Warren (D-Mass.) has signed a letter backing Janet Yellen to lead the Federal Reserve, the Boston Globe reports. The Globe reports o...

Campaign Against Summers Gains Momentum

Reuters | Posted 09.25.2013 | Politics

* Liberal Democrats push back, wary of Wall Street ties * Group of Senate Democrats throws support to Yellen * Sources s...

Alan Greenspan Is Back, and He Looks a Lot Like Larry Summers

Sanjay Sanghoee | Posted 09.24.2013 | Business
Sanjay Sanghoee

As a man mired so deeply in Greenspan Economics, Summers is simply not capable of recognizing the dangers of letting the banking industry run fast and loose, or of grasping the wisdom of regulated capitalism.

Jason Linkins

Surely The Obama Administration Is Joking About This 'Have Larry Summers Run The Federal Reserve' Thing! | Jason Linkins | Posted 07.25.2013 | Politics

Way way back at the end of this period of time that we like to call "the 1990s," Time magazine featured Alan Greenspan, Robert Rubin, and Larry Summer...

Ryan Grim

Will Larry Summers Be Named Fed Chairman? | Ryan Grim | Posted 07.24.2013 | Politics

WASHINGTON -- President Barack Obama is leaning towards former White House Economic Adviser Larry Summers as his choice to replace Ben Bernanke as cha...

Breaking the Glass Ceiling at the Federal Reserve

Robert Kuttner | Posted 09.20.2013 | Politics
Robert Kuttner

Larry Summers is running hard to succeed Ben Bernanke as chairman of the Federal Reserve. This is a terrible idea. Once appointed chief of economic policy, Summers with Tim Geithner was a prime architect of propping up and bailing out the biggest banks, rather than cleaning them out and altering the conflicts of interest at the core of Wall Street's business model. Today, the banks are more highly concentrated, more profitable, and less in the business of financing the real economy than ever. This is Larry Summers' legacy. The prime alternative to Summers is Fed Vice Chair Janet Yellen, who is very much like Bernanke, only better. She has gone even further in expressing concern for the economy's persistent unemployment and in criticizing the bipartisan obsession with deficit reduction. Yellen deserves to be Fed chair purely on the merits. It pains me to write that if she gets the job, one other major contrast with Summers will weigh in her favor. She is female.