Summers Likely Pick for Fed Chairman

“A source from Team Obama told CNBC that Larry Summers will likely be
named chairman of the Federal Reserve in a few weeks though he is ‘still
being vetted’ so it might take a little longer.”

Josh Green: “Summers, if he’s nominated, will get a huge
break from the Senate Democratic caucus, because, unlike the GOP caucus,
it contains no serious presidential contenders. Why does that matter?
Because presidential candidates are almost always captive to the
passions of their party’s base, and the liberal base of the Democratic
Party loathes Summers. That would produce tremendous pressure to oppose
him.”