Weighing Pick for Fed Chief, Obama Defends Summers


The New York Times has the story Weighing Pick for Fed Chief, Obama Defends Summers.

President Obama on Wednesday offered a strong defense of his potential choice of Lawrence H. Summers to head the Federal Reserve, though he said no final choice had been made.
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Mr. Obama did mention another prime candidate for the Fed job, Janet L. Yellen, and noted that he did not know whether there were major policy differences between the candidates. Mr. Summers and Ms. Yellen have become the subjects of an unusually open campaign by lawmakers and others to try to influence the president’s selection.
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The president also reassured Congressional Democrats on Wednesday that he would not “sell out” his party’s principles as his White House tries to negotiate a budget deal with Senate Republicans this fall.

I think the President has heard some of the push back from his own supporters on issues of the economy.  He seems to have taken the message to heart about negotiating budget deals.  I am not sure he really understands the issue of Larry Summers.  At least he has acknowledged that there is another candidate for the spot of Federal Reserve Chairman.

I think getting up in arms is a good thing for us supporters of the President to do. We can’t always be sure he is tuning up his tin ear on every issue.  So it is necessary to complain loudly when we suspect he is off in another world.  He does seem to respond if we shout loudly enough.

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