The White House has “terribly mishandled” the process of picking the next chair of the Federal Reserve, allowing the U.S. central bank to be politicized and potential nominees to be denigrated in the process, a top Fed official said on Monday.
Picking a Fed chair “should not be a public debate,” Dallas Fed President Richard Fisher told the Texas Association of Independent Bankers.
Former Treasury Secretary Lawrence Summers, considered President Barack Obama’s preference, withdrew his name from consideration a week ago, saying his confirmation would incite acrimony.
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