Obama to nominate Summers as Fed chief: Japan's Nikkei

[xchrom]

http://www.reuters.com/article/2013/09/13/us-usa-fed-summers-report-idUSBRE98C06120130913

(Reuters) - U.S. President Barack Obama will name former Treasury Secretary Lawrence Summers as chairman of the Federal Reserve Board, Japan's Nikkei newspaper said on Friday.

The newspaper, quoting unnamed sources, said in its original Japanese version that Obama was "in the final stages" and moving toward naming Summers.

The English-language version said the president "is set to" name Summers as early as late next week.

Debate in Washington has focused on whether Obama will pick Summers or Fed Vice Chair Janet Yellen to succeed Ben Bernanke, whose term as head of the U.S. central bank expires in January. The appointment must be approved by the Senate.

[Katashi_itto]

1. The Obama appologists will need to work overtime with this one.

[LWolf]

2. I'm sure they're already preparing their responses. nt

[mnhtnbb]

3. I certainly hope this turns out to be a case of rushing to print and being wrong.