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July 29, 2013

White House: No Decision on Fed Successor Until Fall 
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The White House has announced it would not announce a successor to
Federal Reserve Chair Ben Bernanke until the fall. Speculation has
centered on Bernanke's current deputy, Janet Yellen, and Larry Summers,
President Obama's former economic adviser and treasury secretary under
President Clinton. Summers' name has sparked opposition from progressive
critics over his role in pushing deregulatory policies that helped cause
the financial crisis. He resigned as president of Harvard University in
2006 amidst uproar over his suggestion that women have less innate
scientific ability than men.

 

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