JAPANESE NEWSPAPER: Obama To Nominate Summers To Fed As Soon As Next Week

Japanese newspaper Nikkei says that Obama is going to nominate Larry Summers to be the Fed chair, and that it could happen as soon as next week.

The article is here, although behind a paywall.

Says Reuters:

The newspaper, quoting unnamed sources, said in its original Japanese version that Obama was “in the final stages” and moving toward naming Summers.

The English-language version said the president “is set to” name Summers as early as late next week.

At this point, there will be no surprise at all if Summers gets the nod, given the endless stories about how he’s the favourite.

Also the timing of “late next week” sounds plausible, as that would mean right after the two-day Fed meeting, when the “tapering” is expected to be announced.

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