“I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration or, ultimately, the interests of the nation’s ongoing economic recovery,” Mr. Summers said in a letter to the president that followed the telephone call.
Wall Street Journal: Summers Withdraws Name for Fed Chairmanship
(gated)
USD is weaker:
- EUR/USD 1.3337
- USD/JPY 98.94
- AUD/USD 0.9312
- GBP/USD 1.5910
- USD/CHF 0.9276
