Yellen Now Front-Runner for Fed Chief
Posted at 4:51 p.m. on Sept. 16
Federal Reserve Vice Chairwoman Janet Yellen emerged as the front-runner to become President Barack Obama’s nominee to lead the central bank after Lawrence Summers pulled out of the contest in the face of stiff congressional resistance, the Wall Street Journal reports.
“The process for selecting a nominee is not starting over, senior administration officials said, and no new candidates for the position have been added to the mix.”
“White House officials were criticized Monday for how they have handled the process for choosing a successor for the Fed job. The search became a messy contest back in June after Mr. Obama began speaking publicly about his thinking on the matter without announcing any decisions.”