Is anyone sad to see Larry Summers withdraw his name for Fed chairman?

[pampango]

18. My only reservation - CNBC: "If it's Yellen, Wall Street gets the Fed chief it wanted, not expected"

Wall Street looks set to get who it wants as Federal Reserve chairman, but definitely not who it expected.

The CNBC September Fed Survey, conducted Thursday and Friday, found Wall Street participants by a 2-to-1 margin believed President Barack Obama would nominate former Treasury Secretary Larry Summers to be the next Fed Chairman. But by about a 5-to-1 margin, they wanted current Vice Chairwoman Janet Yellen to accede to the top post over Summers.

Among the reasons for the preference of Yellen over Summers: The survey of 47 top economists, Wall Street strategists and investment managers found that most perceived Summers to be more hawkish than Yellen—that is, they believed he would be less likely to continue the current easy monetary policy of current Chairman Ben Bernanke.

The survey found that participants believed Yellen was substantially more concerned about unemployment than Summers, and that Summers had greater concern about inflation. ... Market participants gave Bernanke the highest overall score. Yellen came in a close second. But even Kohn beat Summers, who finished last among the four in the eyes of Wall Street.

http://t.nbcnews.com/business/if-its-yellen-wall-street-gets-fed-chief-it-wanted-8C11166978

It is interesting that stock markets all over the world were up today. They did not seem sorry to see Summers bite the dust.

Krugman posted his support for Yellen. It is always a weird day when "Wall Street participants" agree with Krugman and a largest portion of DU, including me, who prefer Yellen over Summers.