Battle over Fed - Summers' opponents seek to sway Obama
http://www.reuters.com/article/2013/09/05/us-usa-fed-summers-analysis-idUSBRE98414R20130905
(Reuters) - Progressive groups opposing Lawrence Summers as the next Federal Reserve chairman are stepping up pressure on President Barack Obama to make a different choice, emphasizing the price his Democratic Party would pay for nominating the former U.S. Treasury Secretary and White House aide.
They are confronted however by a well-coordinated campaign on Summers' behalf by former Obama administration officials who have succeeded in cementing the view that Summers has basically got the job.
President Barack Obama, who is expected to announce his nomination for the job within a few weeks, has said that both Summers and current Fed Vice Chair Janet Yellen are excellent candidates to replace Fed chief Ben Bernanke whose term expires in January.
Reports in the New York Times and Washington Post on Thursday suggested Obama was strongly inclined to pick Summers.
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Let's hope these unnamed progessive groups bring enough pressure to bear to influence his choice in the right (leftward) direction.