The Fed: Sen. Bernie Sanders on Sunday urged President Obama to appoint a new Federal Reserve chairman who will “put the needs of the disappearing middle class ahead of the interests of Wall Street and the wealthy few.” Sanders believes that either economist Joseph Stiglitz or former U.S. Labor Secretary Robert Reich would make "excellent candidates,” to succeed Chairman Ben Bernanke when his term ends on Jan. 31, WPTZ-TV reported. The Fed: Senators on Sunday reminded Obama that the next Fed chief is not solely his choice to make – they have to confirm his pick — and continued a growing push to topple a leading contender, Lawrence Summers, who previously was a top economic aide to Obama and was one of President Clinton’s Treasury secretary. “Larry Summers had been very supportive of the era of deregulation,” Sen. Dianne Feinstein said on CNN’s State of the Union. Sen. Sanders blamed Summers for contributing to “the worst economic crisis since the Great Depression” and said it “would be a tragic mistake to nominate anyone as chair of the Fed who continued those failed policies,” The Wall Street Journal reported online.
Posted on: Mon, 29 Jul 2013 17:00:50 +0000
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