Thursday, February 5, 2009

Cat Fight: Volcker versus Summers

Make no question about it, this Bloomberg report was leaked by Paul Volcker:

Paul Volcker has grown increasingly frustrated over delays in setting up the economic advisory group President Barack Obama picked the former Federal
Reserve chairman to lead, people familiar with the matter said.

Volcker, 81, blames Obama’s National Economic Council Director Lawrence Summers for slowing down the effort to organize the panel of outside advisers, the people said. Summers isn’t regularly inviting Volcker to White House meetings and hasn’t shown interest in collaborating on policy or sharing potential solutions to the economic crisis, they said.
Policywise there isn't much difference in these Keynesian conservatives, but the long knives are out. This should be fun. It's popcorn time again.

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