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Larry Summers is Obama’s Fed pick, Japanese paper claims

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Why Larry Summers Should Not Be Permitted to Run Anything More Important than a Dog Pound. I’ve been gobsmacked to see that not only is Larry Summers on various short lists of candidates to become the next Fed chairman, but that Summers is also supposedly closing in on the favorite, Janet Yellen..

WASHINGTON (AP) – President Barack Obama says his next Fed chairman should take ordinary people into account when setting monetary policy. Obama tells The New York Times in an interview on the paper’s website Saturday that he wants someone who won’t just work abstractly to keep inflation in check.

Friedman was chair of Lawrence "Larry" H. Summers’ dissertation committee. This relationship to Summers is a massive conflict of interest since banks in which Mueller is invested were beneficiaries of the 2008 TARP bank bailout that Summers directed. None of those bankers has ever been prosecuted for the toxic mortgage criminality.

The Fed is willing to provide additional accommodation to spur growth. Gold is soaring in anticipation of more dollar-destroying action from the Fed. Larry Summers is quitting his job as Thrasher in Chief of the US Economy. If you’re rich, you’ll pay higher taxes next year.

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