Democratic Sen. Elizabeth Warren of Massachusetts said Monday she hopes President Obama will choose Federal Reserve Vice Chairwoman Janet Yellen as the first woman to run the nation’s central bank.
Ms. Warren, a member of the Senate Committee on Banking, Housing and Urban Affairs, said it was “no secret” that former Treasury Secretary Lawrence H. Summers was not her first choice for the job. Mr. Summers informed the president Sunday that he was withdrawing from consideration, citing a likely difficult confirmation process.
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Women’s groups were opposed to Mr. Summers, a former president of Harvard University who once suggested that women were not as capable as men in math and science. Many liberal Democrats also criticized his role in the deregulation of the financial sector he helped push while serving in the Clinton administration.
“Janet Yellen, I hope, will make a terrific Federal Reserve chair,” Ms. Warren said on MSNBC’s “Morning Joe.” “I hope she’s nominated. She has great experience, she has great judgment. I think she would make a terrific federal reserve chair. The president will make his decision but I hope that happens.”
Ms. Warren is among at least four Democrats on the committee who were expected to oppose Mr. Summers’ nomination to replace Fed Chairman Ben S. Bernanke.
“Well, I don’t think it’s any secret that Larry was not my first choice,” she said. “He’s a brilliant economist who has made many terrific contributions to the field of economics. I have no doubt that he’s going to continue to do that in the future. I think that the president is working through a difficult decision.”