KRUGMAN: Not Picking Janet Yellen 'Would Look Like Spite'

Everyone is weighing in on
Larry Summers’ announcement that he is withdrawing his namefor Fed chair.

The latest is from The New York Times’ Paul Krugman, who adds a personal note along with some punditry in a post called “Freedom Is Just Another Word For Nothing Left To Lose.”

First, he says President Obama must now pick Janet Yellen — in his opinion, she is simply the best candidate:

“… it’s really, really hard to see how Obama can justify not picking Janet Yellen at this point. Nobody else is as qualified; any other choice would look like spite.”

He goes on to say that he feels bad for Larry Summers:

“Just a personal reaction: I’ve known Larry for all our adult lives, and looking at this sad play I realise how lucky I am to have reached a place where I’m no longer in the rat race. Obviously I’m plenty combative, and in a way still ambitious too; I do track my Twitter followers, wonder how each column will do on the most-emailed list, and all that. But there are no promotions I’m seeking, no honours I desperately desire that I don’t already have.”

Very Zen of him.

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