Monday, August 26, 2013

REPORT: Geithner Leading Search for a Non-Yellen, Non-Summers Fed Chair

Larry Kudlow writes:
hen it comes to Fed policy, one of the hottest topics on Wall Street is the next Fed chair. Who will replace Ben Bernanke? And believe it or not, Timothy Geithner's name may be resurfacing. Is it possible that the former Treasury secretary will come to the rescue of a leaderless and hopelessly divided central bank that has no real clue where it's going or how fast it should get there?

Wait a second ... Geithner? Did someone say Geithner? We thought he retired from government to go home to New York.

Well yes, but not exactly.

A key insider source tells me that Geithner has been leading the search for Bernanke's replacement. My source, by the way, predicted a Larry Summers boomlet well before Summers' name became public. And now my source tells me that the only way to end the bloodletting between Fed-chair hopefuls Janet Yellen and Summers is to find a third option. And that third option includes Geithner, as well as former Fed veteran Donald Kohn.

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