Summers’s Withdrawal Said to Make Yellen Fed Front-Runner
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Fed Vice Chairman Janet Yellen is the leading candidate to replace Ben S. Bernanke following the withdrawal of Lawrence Summers from consideration, a person familiar with the process said.
Obama hasn’t made a decision on a nominee for the top Fed post and several people familiar with White House discussions said another candidate may yet emerge. An administration official said the process of reviewing candidates isn’t starting over now that Summers has dropped out of the running.