Summers' Fed candidacy a ruse: Art Cashin

Monday, 29 Jul 2013 | 4:45 PM ET
Cashin: Summers' 'candidacy' a ruse
Monday, 29 Jul 2013 | 11:51 AM ET
Arthur Cashin, UBS, shares his thoughts on the Fed chairman's likely successor. There's no doubt Summers is brilliant, he says, but he's no "consensus builder."

The feeling on Wall Street is that Larry Summers' candidacy to chair the Federal Reserve may be a bit of a ruse to help vet front-runner Janet Yellen, said UBS's Art Cashin

"No one doubts that Larry Summers is absolutely brilliant, but one thing he is not is a consensus builder, and if you're going to run the FOMC, which is like herding cats, you need to be a consensus builder," Cashin said.


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