Normally, no one would know or care who got the job at the Fed. But everyone says these aren’t normal times. They all seem to think the times call for an extraordinary person… a “brilliant” person.
After all, who else would be able to carry out the mission President Obama has outlined for him: to keep the economy growing, hold inflation in check and make sure we don’t create new instabilities? A tall order.
The entire thing is a setup and designed to bring into focus the one candidate who everyone agrees is “brilliant”: Larry Summers. Whom do you call when times aren’t normal? Who else has such a brain? Quick as a viper, agile as a flimflam man and as penetrating as Rust-Oleum? Yes, for these reasons, the insiders believe Larry Summers is increasingly finding favor in his master’s eyes.