Home > Economics, Politics > Summers Withdraws Name for Fed Chairmanship

Summers Withdraws Name for Fed Chairmanship

Sunday, September 15th, 2013 Leave a comment Go to comments

According to The Wall Street Journal and The Washington Post, former White House economic adviser and Treasury secretary Lawrence H. Summers has withdrawn his name as a candidate for Fed Chairman.

In a letter dated Sunday to the President, Summers notably wrote:

This is a complex moment in our national life. I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration, or ultimately, the interests of the nation’s ongoing economic recovery.

To read Summers’ letter to President Obama in full, click here.

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