Last week, I noted my preference for Fed Chief was Anyone But Larry Summers.
So you can imagine my disappointment when Ezra Klein posted this today: Right now, Larry Summers is the front-runner for Fed chair.
This nation faces too very large political problems related to economics:
1. The President of the United States is an Economic Naif. Perhaps less so than he was on January 20th 2009, but overall, I cannot help but reach the inescapable conclusion that he lacks a sophisticated understanding of the economy.
2. That naivete has led him to be bamboozled — repeatedly — by Robert Rubin and his acolytes. Both Tim Geithner and Larry Summers are “Rubinites.”