Today, according to the Wall Street Journal, Larry Summers withdrew his name from consideration for chair of the Federal Reserve.
http://www.huffingtonpost.com/2013/0...n_3931476.html"I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation's ongoing economic recovery," Summers said in the letter.
http://online.wsj.com/home-page (breaking announcement)
The groups arrayed against his nomination were formidable.
I wonder if the default choice is now Janet Yellen.
Janet Louise Yellen is an American economist and professor, who is the Vice Chairwoman of the Board of Governors of the Federal Reserve System. Wikipedia