June 08, 2009

Fun and games with Larry Summers

There's an interesting article in the Times about the economic advisers working for the President, specifically focused on Larry Summers. It's a moderately interesting read... until I came to this part.

By all accounts, much of the tension derives from the president’s choice of the brilliant but sometimes supercilious Mr. Summers to be the director of the National Economic Council, making him the policy impresario of the team. The widespread assumption, from Washington to Wall Street, was that the job would be Mr. Summers’s way station until the president could name him chairman of the Federal Reserve when Ben S. Bernanke’s term expires early next year.

Please, God, no. Summers has done a much better than expected job and seems to have a better focus on how the politics will play out with regard to economic policy decisions. Which is precisely what we don't need in a Fed Chair which is supposed to be an ideologically and politically agnostic post.

Posted by mcblogger at June 8, 2009 12:44 PM

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