Lawrence Summers (AP/J. Scott Applewhite)

Summers withdraws name from Fed chair consideration

The former Treasury Secretary had faced mounting opposition over Wall Street ties


Associated Press
September 16, 2013 12:59AM (UTC)

WASHINGTON (AP) -- President Barack Obama says he has accepted Lawrence Summers' decision to withdraw from consideration for the role of Chairman of the Federal Reserve.

Obama says Summers was a critical member of his economic team and says he is grateful for his service on behalf of the country.

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Summers was the leading candidate to replace current Fed Chairman Ben Bernanke but faced opposition from some Democrats.


Associated Press

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Citigroup Federal Reserve Larry Summers Lawrence Summers Treasury Secretary

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