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Post by bot on Jul 31, 2013 16:58:00 GMT -5
Obama strongly defends Summers: reports WASHINGTON (MarketWatch) -- President Barack Obama defended Larry Summers inside a closed-door meeting with House Democrats, according to several news reports on Wednesday. Several members of Congress said Obama was adamant in his defense of Summers, according to the report on Bloomberg News. The White House has said that Obama won't name a replacement for Fed Chairman Ben Bernanke until the fall. Obama credited Summers for healing the nation's economy from collapse, according to a report on Politico. The race for Fed chairman is said to be down to Summers and Fed Vice Chair Janet Yellen.
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