Amid growing liberal and Democratic opposition to the possibility of Larry Summers as chairman of the Federal Reserve, President Barack Obama gave a “full-throated defence” of him to a group of House Democrats in a closed-door meeting.
Rep. Gerry Connolly (D-Va.) told reporters of Obama’s defence. According to Bloomberg, Rep. Brad Sherman (D-Calif.) said that Obama also told House Democrats that Summers has been “unfairly criticised.”
Sherman also said Obama hasn’t made a decision on the next Fed chair, but that he “took a minute to stand up for Larry Summers.”
Politico’s Ben White reported today that Summers is still the front-runner over Janet Yellen, who has become the popular choice of Congressional Democrats.
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