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Obama defends Larry Summers against charges he is unfit to be Fed chairman

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Mike Lillis and Peter Schroeder
The Hill
August 1, 2013

President Obama on Wednesday defended Larry Summers from liberal charges that the former Treasury secretary is unfit to head the Federal Reserve.

Addressing House Democrats in the Capitol, Obama emphasized that he has not yet chosen a replacement for Fed Chairman Ben Bernanke, who is expected to step down at the end of the year.

Summers and Janet Yellen, the current vice chairwoman at the Fed, are widely considered to be the leading candidates for the top job at the central bank.

But the president argued that Summers, who headed Obama’s economic team in 2009 and 2010, has been wrongly attacked by some liberals and media outlets.

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This article was posted: Thursday, August 1, 2013 at 1:43 am





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