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Yellen: The Obvious Choice For Fed Chair


Matthew O’Brien is making sense.

There’s an additional consideration here as well. The existence of an ongoing boy’s club, like the most senior positions at the Federal Reserve, should create a strong presumption in favor of a fully qualified woman all things being equal. Things are not always equal, and if Larry Summers were uniquely brilliant and well-suited to the job the presumption in favor of breaking the glass ceiling could be overcome. But it seems rather obvious that this isn’t the case. On issues of monetary policy it is Yellen who seems more qualified, and Summers’s bullying management style seems particularly ill-suited to the Fed. Moreover, Summers isn’t just any member of the old boy’s club — he’s someone whose tenure as president of Harvard had a poor record of tenuring and promoting female academics which he tried to justify with condescending sexist pseudo-science.

Yellen over Summers should be an easy choice. If Obama picks the latter it speaks very poorly of him.

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