HUFFINGTON POST: Former U.S. Treasury Secretary Larry Summers has removed his name from consideration for Federal Reserve chair, the Wall Street Journal reported on Sunday.
Summers notified President Barack Obama on Sunday via phone call, and sent a letter shortly after.
“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,” Summers said in the letter. … (more)
