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Mon Sep 16, 2013, 03:28 PM

If it's Yellen, Wall Street gets the Fed chief it wanted, not expected

If it's Yellen, Wall Street gets the Fed chief it wanted, not expected
Wall Street looks set to get who it wants as Federal Reserve chairman, but definitely not who it expected.


The CNBC September Fed Survey, conducted Thursday and Friday, found Wall Street participants by a 2-to-1 margin believed President Barack Obama would nominate former Treasury Secretary Larry Summers to be the next Fed Chairman.

But by about a 5-to-1 margin, they wanted current Vice Chairwoman Janet Yellen to accede to the top post over Summers.



In a surprise announcement on Sunday, Summers, the presumed frontrunner, told President Obama he no longer wanted to be considered for the job. Summers, who was strongly opposed by some Democrats on the left, cited the high political price the president might have to pay for the nomination to succeed.

After watching the calls here from the my fellow lefties, it is hard to believe this article. Is she the bane of Wall Street or the person they really wanted all along?

Just a weird story.

6 replies, 1079 views

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Reply If it's Yellen, Wall Street gets the Fed chief it wanted, not expected (Original post)
Agnosticsherbet Sep 2013 OP
msanthrope Sep 2013 #1
Tarheel_Dem Sep 2013 #2
Agnosticsherbet Sep 2013 #4
msanthrope Sep 2013 #5
demwing Sep 2013 #6
Agnosticsherbet Sep 2013 #3

Response to Agnosticsherbet (Original post)

Mon Sep 16, 2013, 03:31 PM

1. Indeed. A DUer sugested to me that the left 'won.' What, precisely we won has

 

yet to be determined, no???

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Response to msanthrope (Reply #1)

Mon Sep 16, 2013, 03:33 PM

2. One can only presume that objections to Summers was because it was "believed" that he was the....

choice of Pres. Obama. I guess the moral of the story is..."be careful what you wish for"?

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Response to Tarheel_Dem (Reply #2)

Mon Sep 16, 2013, 03:38 PM

4. Considering the strong opposition here some have to Obama, you could be right about that. n/t

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Response to Tarheel_Dem (Reply #2)

Mon Sep 16, 2013, 03:40 PM

5. "Watch out, you might get what you're after..." nt

 

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Response to Tarheel_Dem (Reply #2)

Mon Sep 16, 2013, 03:56 PM

6. actually, there arr MANY things one can presume

 

Chief amongst those being opposition to Summers based on his horrible economic policies

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Response to msanthrope (Reply #1)

Mon Sep 16, 2013, 03:36 PM

3. I understand the belief "we won..."

The left did not want Summer's and this pressured Democrats in the Senate to not support him. It showed that the left is not so moribund that it can not pressure democrats into acting as it demands.

If she really is the ideal Wall Street Fed Chairman, then it raises questions? Is what we believed about her accurate, or are we about to get someone that we will detest in six months or so and say we never supported because she is just another Bankster?

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