President Barack Obama was one of the officials who leaked that he was on the verge of naming Larry Summers to succeed Ben Bernanke as chair of the Federal Reserve, according to a column Monday by progressive columnist Robert Kuttner.
According to Kuttner, in a follow-up email, a reliable source told him the president mentioned Summers on background to a small group of the press.
The carefully orchestrated campaign went awry because of a massive backlash from Senate Democrats, Kuttner said.
At the daily press briefing Monday, White House deputy press secretary Josh Earnest declined to comment on Obama’s deliberations in picking a Fed chair.
Kuttner, who has long decried the influence of Robert Rubin on the Democratic Party, sees the former Treasury secretary as the puppet-master at the center of the race for Fed chairman.
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Mingze Wu
centers on forex and macro-economic trends impacting the Asia Pacific region.
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