Survey: Wall Street DOES NOT want Larry Summers as next Fed chief [View all]

[Cali_Democrat]

So this is the point at which DU sides with Wall Street.

We are truly through the looking glass folks.

Wall Street wants Yellen, not Summers, as next Fed chief
By: Steve Liesman

Wall Street overwhelmingly believes President Obama will and should pick Janet Yellen to be the next chairman of the Federal Reserve, according to a survey.

Preliminary results of the CNBC Fed Survey for July show 70 percent of the 40 participants who responded believe Obama will pick Yellen, currently, the Fed's vice chair, to replace current Chairman Ben Bernanke, whose term is up in January.

Just 25 percent believe it will be the former Treasury Secretary Larry Summers.

Yellen also beats Summers when CNBC asks participants who the president should nominate, with 50 percent choosing Yellen and 12.5 percent saying he should reappoint Bernanke. Even write-in candidate John Taylor, the Stanford University president, beats out Summers on who the president should nominate.

http://www.cnbc.com/id/100917426