Larry Summers withdraws name for Fed chair job
September 15th, 2013
04:48 PM ET
9 years ago

Larry Summers withdraws name for Fed chair job

New York (CNNMoney) - After months of contentious public debate, Larry Summers has withdrawn his name from consideration to become the next chairman of the Federal Reserve, sources familiar with the decision confirmed to CNN.

President Obama said he spoke with Summers earlier Sunday and accepted his decision.


Filed under: • Federal Reserve • Larry Summers
soundoff (19 Responses)
  1. volvo544

    Good! The guy is a divisive non-team player.

    September 15, 2013 05:07 pm at 5:07 pm |
  2. CMML

    Considering most democrats hate Summers – this was a face saving move

    September 15, 2013 05:13 pm at 5:13 pm |
  3. YeahRight

    Summers wants to run for office in 2014.

    September 15, 2013 05:14 pm at 5:14 pm |
  4. who is she?

    is yellin from World Bank?

    September 15, 2013 05:17 pm at 5:17 pm |
  5. kdjek

    LOL, the most incompetent and most corrupt person of our time. Who recommended him? He or she should be fired on the spot!

    September 15, 2013 05:17 pm at 5:17 pm |
  6. Terry

    And nobody wants him.

    September 15, 2013 05:19 pm at 5:19 pm |
  7. conchytonker

    Obama's damage control team actually operates in shifts.

    September 15, 2013 05:20 pm at 5:20 pm |
  8. Anonymous

    Good. If he had been selected, it would have signaled Obama's commitment to screwing the middle class. He had far too much involvement with large banking interests.

    September 15, 2013 05:22 pm at 5:22 pm |
  9. oh no!

    only a complete fool would be willing to have any association with obama and his failed presidency at this point!

    September 15, 2013 05:22 pm at 5:22 pm |
  10. Bill

    Good. By select Summers, Obama would have been signaling a commitment to screwing the middle class. Summers was too involved with large banking interests to chair the Fed. effectively.

    September 15, 2013 05:24 pm at 5:24 pm |
  11. PJ

    Summers is probably the most unpopular guy in the Administration. I am glad to read that he is out of the running.

    September 15, 2013 05:25 pm at 5:25 pm |
  12. Mike

    Oh Crap what do they have on him?

    September 15, 2013 05:27 pm at 5:27 pm |
  13. dalene44

    Gee, I wonder why?

    September 15, 2013 06:52 pm at 6:52 pm |
  14. Winston Smith

    There's a reason, and none of us will ever know why. He's another one of our Teflon coated elite. But could he stand the sniff test? Apparently not.

    September 15, 2013 08:09 pm at 8:09 pm |
  15. S. B. Stein

    This might indicate he wants to stay at Harvard.

    September 15, 2013 10:05 pm at 10:05 pm |
  16. Nurul Aman

    I am very happy to see Larry's Summer's unilateral withdrawal from the list of candidates for the successor of Ben Bernanke. In my opinion, Larry Summers should be the last person to be considered as the Fed Chief. There are dozens of reasons why he should not have been appointed as the Director of Economic Advisory Board by Pres. Obama in 2009. After being removed from his presidency at Harvard due to his offensive comment on Women position in Science and Technology, he does not deserve to be in any responsible position in the Government or Private Sector. Besides, he did never make any positive contributions to the economic recovery or economic well being for America. In my opinion, Summers has two significant contributions: He made himself filthy rich by advising the Hedge Fund Managers in the Wall Street who brought the worst financial collapse in the US in 2008 since the Great Depression; second, he served the crony capitalists in America throughout his career at Harvard. He is one of those voodoo economists who serves the wealthiest boys club in America at the expense of job and fair compensations for the hard working people in America. America must reject all crony capitalists and their surrogates like Mr. Summers from taking this critical job at the Federal reserve.

    September 15, 2013 10:23 pm at 10:23 pm |
  17. Thomas

    Good , less arrogance , more humility !

    September 16, 2013 01:36 am at 1:36 am |
  18. boungiorno

    things are not what they seem to appear to be these days are they people WALK SOFT BUT CARRY A BIG STICK

    September 16, 2013 02:41 am at 2:41 am |
  19. J.V.Hodgson

    Thank god he was the wrong choice.

    September 16, 2013 05:54 am at 5:54 am |