Harvard University professor
Lawrence Summers will join the Obama administration with a
ready-made sales pitch for substantial economic stimulus and a
chance that the role springboards him to the Federal Reserve. Summers, 53, was Bill Clinton’s last Treasury secretary. He
will have a wide-ranging portfolio and help craft Obama’s
economic policies, a Democratic aide said…It also positions him to
succeed Fed Chairman Ben S. Bernanke, whose term at the helm of
the central bank expires in January 2010, said Vincent Reinhart,
former director of the Fed’s Division of Monetary Affairs.
Here is the story.