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Karen Spilka Statement on Larry Summers Withdrawing his Name from Consideration for Fed Chair

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"I am very pleased to see that Larry Summers has withdrawn his name for consideration to chair the Federal Reserve. Mr. Summers was one of the architects of the deregulation in the financial markets that led directly to the economic meltdown in 2008. We need a chairperson who will be focused on policies that benefit the middle class -- not someone who looks after the best interests of Wall Street. I am extremely encouraged by this news and I am optimistic that President Obama will now nominate Janet Yellen for this critical position." - Karen Spilka


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