To: President Donald Trump
Don't let Larry Summers head the Fed
Victory! The creator of this petition declared the campaign a success. You can still sign the petition to show support.
Picking Larry Summers for Fed chair would be exactly the wrong message to send at the moment. Summers is one of the main architects of the policies that have given us the worst downturn since the Great Depression. It would be an especially bad signal to send when there is an outstanding pick already at the Fed serving as Vice-Chair, Janet Yellen.
Why is this important?
The Washington Post says that right now, Larry Summers is the front-runner for chair of the Federal Reserve, one of the most powerful economic policymaking positions in the country. But as noted progressive economist Dean Baker says, "Picking Larry Summers for Fed chair would be exactly the wrong message to send at the moment. Summers is one of the main architects of the policies that have given us the worst downturn since the Great Depression. It would be an especially bad signal to send when there is an outstanding pick already at the Fed serving as Vice-Chair, Janet Yellen."
Reuters, "Opposition mounts to Summers as possible Fed chief,"
http://www.reuters.com/article/2013/07/26/usa-fed-summers-idUSL1N0FV0T820130726 (mentions this petition)
Bloomberg, "Senate Democrats Ready Letter Urging Yellen as Fed Chief,"
Dean Baker, "The Return of Larry Summers?"
Felix Salmon, "Don’t send Summers to the Fed,"
Scott Sumner, "Larry Summers is unqualified to be Fed chair,"
Bill McBride, "Janet Yellen for Fed Chair"
Ezra Klein, "The subtle, sexist whispering campaign against Janet Yellen"
Dean Baker, "Democracy Versus Bankers at the Fed"
William Greider, "Stop Larry Summers Before He Messes Up Again"
David Dayen, "Larry Summers will destroy the economy (again)"
Yves Smith, "Why Larry Summers Should Not Be Permitted to Run Anything More Important than a Dog Pound"
William Greider, "No More Second Chances for Larry Summers"
Noam Scheiber, "Wait, Larry Summers Is Now the Favorite for the Fed? Can we at least talk it over first?"
Mike Konczal,,"Should Obama pick Larry Summers to head the Fed?"