Sen. Elizabeth Warren put in her vote for Janet Yellen to be Chairman of the Federal Reserve on Monday, following the news that Larry Summers was withdrawing his consideration for the position.
“Janet Yellen, I hope, will make a terrific federal reserve chair,” the Massachusetts Democrat said on Morning Joe. “I hope she’s nominated. She has great experience, she has great judgment. I think she would make a terrific Federal Reserve chair. The president will make his decision but I hope that happens.”
Warren has been a longtime critic of Summers, who was a front-runner for the job. According to Bloomberg, Warren told the White House she had “serious concerns” about his qualifications for the job—adding her name to the growing list of critics who were suspicious of Summers’ opposition to regulating derivatives, his coziness with banks and hedge funds, and even his gender politics.
“I don’t think it’s any secret that Larry was not my first choice,” Warren said on Monday. “We have different world views about the economy and about regulation. Right now the president is going to make, I hope, a good decision on the Federal Reserve chair.”
Jane Timm