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Larry Summers Withdraws From Consideration for FED Chair
Posted: Sun Sep 15, 2013 4:11 pm
by Ad Orientem
Breaking news...
Re: Larry Summers Withdraws From Consideration for FED Chair
Posted: Sun Sep 15, 2013 10:10 pm
by MediumTex
The markets will like that.
Re: Larry Summers Withdraws From Consideration for FED Chair
Posted: Mon Sep 16, 2013 6:50 am
by Kshartle
He must have been the lesser of two evils. We almost always get the worst one. I expected Yellen because I thought she would be worse. That is usually the safest bet when it comes to political appointments. "Who would do the most long-term damage........."
Re: Larry Summers Withdraws From Consideration for FED Chair
Posted: Mon Sep 16, 2013 10:13 am
by Reub
I heard someone say that there are 4 or 5 soon-to-be openings on the Fed and that when Obama is through replacing them the Fed will be drastically changed for the next 10 years. They will be able to target their buying to the recipients of their choice.
Re: Larry Summers Withdraws From Consideration for FED Chair
Posted: Mon Sep 16, 2013 10:45 am
by Ad Orientem
The FED's buying is constrained by the Federal Reserve Act. This is why they never purchased municipal or corporate bonds. But I am bracing for a much more activist FED. On a side note Obama has been taking a lot of lumps lately. Between Russia upstaging him and now this fiasco the White House staff are looking like the cast of a third rate comedy.