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Economics

Fed Chairman Debate Pits Insider Against Outsider

Aug. 19 (Bloomberg) -- Much of the debate over who will be the next U.S. Federal Reserve chairman has focused on whether gender politics or the future of Fed monetary policy will be more determinative.

Of the two leading candidates, Janet Yellen, the Fed’s vice chairman, favors staying the course on the central bank’s loose money policy, known as quantitative easing. Larry Summers, the former Mr. Everything, including Treasury secretary, National Economic Council director and Harvard University president, apparently prefers to begin winding down the program.