Yesterday, former Treasury Secretary Larry Summers withdrew his nomination for the Federal Reserve chairmanship. The wave of Janet Yellen-speculation following in the announcement's wakewas swift.
Summers's reasoning? "This is a complex moment in our national life. I have reluctantly concluded than any possible confirmation process for me would be acrimonious and would not serve the interests of the Federal Reserve, the Administration, or ultimately, the interests of the nation's ongoing economic recovery."
Makes sense, especially given the hardening opposition to the controversial economist in town frompundits and politicians alike.
The Monkey Cage posits that the last time an executive nomination played out like this was nearly a century ago.
So, back to Janet Yellen. Ezra Klein has five reasons she should have the job, starting with the fact she's way qualified.
The American Enterprise Institute seems skeptical that Republicans would dare filibuster the first female fed nominee.
But ... the White House is still likely uneasy about all this. Who knows what will happen next...
If Yellen doesn't get the nomination, here are some other options.
