A report in a Japanese newspaper that ex-U.S. Treasury Secretary Larry Summers will be named as Ben Bernanke’s replacement as chairman of the U.S. Federal Reserve sent the dollar up Friday morning.
The newspaper Nikkei reported that the announcement by U.S.President Barack Obama could come as early as next week, after the Fed’s Wednesday meeting.
The White House responded Friday by saying it hasn’t made any decision about the new Fed chairman.
Summers has already been tipped as one of the front-runners for the post, along with Janet Yellen, the current Fed Vice Chairman.
via CNBC
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Alfonso Esparza
trader focused on North America and emerging markets. He has been published by The MarketWatch, Reuters, the Wall Street Journal and The Globe and Mail, and he also appears regularly as a guest commentator on networks including Bloomberg and BNN. He holds a finance degree from the Monterrey Institute of Technology and Higher Education (ITESM) and an MBA with a specialization on financial engineering and marketing from the University of Toronto.
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