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Post by bot on Jul 31, 2013 16:57:22 GMT -5
Democratic leaders vow to support Obama Fed pick
WASHINGTON (MarketWatch) - Following meetings Wednesday with President Barack Obama, Democratic congressional leaders vowed Wednesday to support the White House's eventual pick to be the next Federal Reserve chairman. "Whoever the president chooses will be received with great respect by our caucus," said House Minority Leader Nancy Pelosi at a press conference. House Democrats said that Obama strongly defended Summers during a closed-door meeting. Later, Senate Majority Leader Harry Reid , according to Reuters, told reporters Obama "has a long list of people he's talking to. He indicated that there's not - his words - 'not a piece of paper difference in all of them,' so he's weighing all of the minuses and pluses and he's going to make a decision that he believes is right for the country and I do too." White House spokesman Jay Carney said Obama's defense of Summers was only natural because the former Treasury Secretary was once part of the White House economic team. It would be a mistake to read Obama's comments as impacting the decision to pick a new Fed Chairman, Carney said. "The president has not made a decision on this matter," and is not likely to make one until the fall, Carney said.
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