Friday, July 26, 2013

Not the Smartest Guy in the Room

If we are to believe Ezra Klein, Larry Summers is the front-runner in President Obama's mind to take over the job of Chairman of the Federal Reserve as Ben Bernanke's replacement.  Bernanke hasn't been an ideal Fed Chair, but he's been far better than his predecessor, the absurdly overrated Alan Greenspan, whose monumental contribution to American economics was "lower interest rates and the economy will grow."
Now Benranke is retiring and Obama has to pick a new Chair.  In this space, we express our hope that Summers is not the choice.