Summers Backs Yellen’s Debut in Fed Chair Role He Wanted

Federal Reserve Chair Janet Yellen is generally taking the right approach in continuing efforts to boost a tepid U.S. economic recovery, former U.S. Treasury Secretary Lawrence Summers said in an interview airing today.

Summers, who had sought the post Yellen assumed on Feb. 3, said on “CNN’s Fareed Zakaria GPS” that inadequate demand and slow growth remain the greatest threats to the economy and that the Fed’s bias toward expansion is “broadly the appropriate orientation to have.”