Fed Leader Doubt Erodes Low-Rate Message as QE Taper Looms
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Federal Reserve officials will gather in their Washington board room this week to decide on policies that will unfold over the next two to three years without knowing who will lead the institution during that time.
Yesterday’s announcement that Lawrence Summers has withdrawn his name from Obama’s list of candidates to succeed Fed Chairman Ben S. Bernanke threatens to weaken the central bank’s policy message by leaving the succession unsettled just as it considers scaling back record accommodation.