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Obama may consider Summers as Fed chief: Democrat

CHICAGO
Fri Nov 21, 2008 6:10pm EST
Treasury Secretary Henry Paulson (L) speaks about the global economy at the Wall St. Journal's CEO Council in Washington November 17, 2008. Also pictured are former U.S. treasury secretaries Robert Rubin and Larry Summers (R). REUTERS/Kevin Lamarque

CHICAGO (Reuters) - U.S. President-elect Barack Obama may consider Lawrence Summers as a successor to Federal Reserve Chairman Ben Bernanke, whose term expires in January 2010, a Democratic source told Reuters on Friday.

Barack Obama

The New York Times reported that Summers, a former treasury secretary, is likely to be named as an economic adviser to Obama with the expectation that he will eventually be tapped for the Federal Reserve Board.

Citing two sources familiar with the Obama transition, the newspaper also said Summers could perhaps succeed Bernanke.

(Reporting by Caren Bohan; Editing by John O'Callaghan)
Barack Obama


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