Larry Summers won't be the next Fed chair, but who will be?

Larry Summers, former Treasury Secretary of the United States.

Amid pushback from a handful of Democrats over his possible nomination, former U.S. Treasury Secretary Lawrence Summers has withdrawn his name from consideration to replace Ben Bernanke as chairman of the Federal Reserve. Karen Petrou, managing partner at Federal Financial Analytics, joins Marketplace Morning Report host David Brancaccio to discuss the opposition from the Senate that partly led to his move. 

Click the audio player above to hear more. And click here to listen to David's conversation with Phillip Swagel, professor at the University of Maryland's School of Public Policy, about what led to Summers withdrawing his name and what plans the next Fed chair may have. 

 

About the author

David Brancaccio is the host of Marketplace Morning Report. Follow David on Twitter @DavidBrancaccio

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