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The Summers vs. Yellen scrum is a fascinating nomination contest, and not just for the obvious reasons.
August 14 -
Sens. Elizabeth Warren and Bernie Sanders say Fed chair candidates should spell out whether they are willing to break up "too big to fail" banks and if the financial crisis was caused by the repeal of the Glass-Steagall Act.
August 12 -
Regulatory reform is likely to continue on its current path if Janet Yellen, the Federal Reserve Board's vice chairman, is tapped to lead the central bank. The future is decidedly murkier if Larry Summers wins the post.
July 29
Greenlining Institute, a nonprofit research and policy group that advocates for racial and economic justice in the U.S., has joined a chorus of liberal voices calling for the appointment of Janet Yellen as the next chair of the Federal Reserve Board.
In an
Yellen "has demonstrated that she understands the importance of unlocking the economic potential of low-income communities and communities of color," executive director Orson Aguilar and economic equity director Sasha Werblin wrote.
The authors also expressed reservations about former Treasury Secretary Larry Summers, who is widely believed to be a leading candidate for the position. The letter cites
"Given Mr. Summers' history of supporting Wall Street deregulation and his apparent disregard for diversity," the letter states, "we feel his leadership would not provide our communities with the opportunities they need to help drive our national economy."
In supporting Yellen, Greenlining joins a
While Yellen and Summers are rumored to be the top contenders to succeed Ben Bernanke, other potential candidates remain in play. American Banker's Barbara Rehm
