Federal Reserve Latest News: Fears Rise That Larry Summers is Likely to Be Named Fed Chairman

Wochit 1:02 mins

According to people who have been briefed on the administration's thinking, President Barack Obama is leaning towards former White House Economic Adviser Larry Summers as his choice to replace Ben Bernanke as chairman of the Federal Reserve. Liberal critics of Summers' economic record, along with those who continue to question his ability to work with women, are waging a last-minute campaign to persuade the president to change his mind and instead choose the other frontrunner for the job, Fed Vice Chair Janet Yellen. A source familiar with the matter says that President Barack Obama is considering nominating Federal Reserve Governor Sarah Bloom Raskin to replace the U.S. Treasury Department's No. 2 official, Neal Wolin According to a survey Investors raised their longer-dated U.S. Treasuries holdings in the latest week after Federal Reserve Chairman Ben Bernanke sought to reduce worries about rising interest rates,

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