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Monday, September 16, 2013

Summers withdraws from consideration for Fed Chief.

Larry Summers has dropped out from the race to become the next Chairman of the Federal Reserve, saying that "any possible confirmation process for me would be acrimonious," and would not serve the interests of the Fed, the government or the economy. The remaining top contenders are Janet Yellen and Don Kohn, both of whom helped shape the Fed's super easy money policy, of which Summers was a critic.

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