Poor Lawrence Summers, he doesn't get to be chairman of the Federal Reserve, aka the czar of the world's economic order. It would have been the penultimate reward for a career advanced by a string of stunning failures, but this time around some key senators needed to confirm the president's likely choice had the gumption... Read More
For those of us who view the American economy from abroad, one of the biggest puzzles of recent years has been President Obama’s reported wish to appoint Larry Summers the next chairman of the Federal Reserve. As Mark Leibovich has pointed out in This Town, a hilarious new book on theWashington eco-system of show-boating, social... Read More
Soaring Unemployment and a Double-Dip Recession?
Barack Obama's chief economic advisor, Lawrence Summers, is determined to sabotage a second round of stimulus. And, he's getting plenty of help, too. Congressional Democrats are dragging their feet because they're worried about the political backlash and midterm elections, the GOP deficit hawks are looking for a way they can derail the Obama agenda and... Read More