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Due to political push-back, Larry Summers was forced to drop out of the race for Fed chairman. CNBC's Steve Liesman has the results of the CNBC Fed survey following the news. Ben White, Politico, and Greg Braca, TD Bank Group, weigh in on whether Janet Yellen is the clear front runner now that Summers out of the race.
Wall Street agrees on two things: the Fed will soon reduce its asset purchases by $15 billion and Janet Yellen will be nominated as chair, according to a new CNBC Fed Survey.
Brendan Brown, Head of Research at Mitsubishi UFJ Securities International says everyone should recognize that QE can't go on forever.
Axel Merk, President & CIO, Merk Investments deciphers why markets are hailing Larry Summers' withdrawal from the Fed race and why Janet Yellen is the addiction markets want more of.
Mad Money host Jim Cramer discusses how the withdrawal of Larry Summers for Fed chair consideration impacted the markets today.
Pimco's Bill Gross weighs in on today's stock rally following Larry Summers' announcement he is withdrawing from consideration for Fed chair. "Larry Summers was not a slam dunk nominee; Janet Yellen has always been the front runner," he says.
Markets are reacting to Larry Summers withdrawal from consideration to be the next Fed chief. Kenny Polcari, O'Neil Securities; David Balin, Citi Private Bank; and CNBC's Bob Pisani analyze the market's upward move.
Traders are betting the Fed will keep policy easier for longer now that Larry Summers is out of the running to head the central bank.
Larry Summers' ascension to lead the Fed ended before it began, meaning President Obama's ability to pack it with acolytes could be limited.
Who would have thought that the Fed would create enough drama in one week to be in contention for a Lifetime original movie?
Watch market movements this week. It should be quite a ride and confirm our contention that markets are not as rational as everyone thinks.
Despite opposition, the White House might still have muscled Larry Summers into the Fed chair but it would have meant cutting deals.
Happy Monday, and R.I.P. Lehman Brothers, five years later. Welcome to the special Larry Summers edition of the six-pack.
President Barack Obama's safest choice is Janet Yellen but keeping Ben Bernanke could still be a possibility, said Tony Fratto, former White House press secretary.
US stock futures surged and interest rates fell after "hawk" Larry Summers bowed out of the race for Fed chief.
The surprise withdrawal of Fed Chairman candidate Summers will likely give risk-on trades, such as battered emerging market currencies, a boost.
Summers has withdrawn his name for consideration to succeed Ben Bernanke as Fed chief. Futures jumped 1% following the news.
Fed contender Larry Summers, who has been criticized for being too cozy with Wall Street, has canceled all events with Citigroup while Obama mulls his decision.
Jon Tester is the latest member of the Senate banking committee to say he'd vote "no" on Larry Summers if President Obama nominated him for Fed chief.
President Obama is still said to favor Larry Summers as the next chairman of the Federal Reserve but the pick may still be a couple weeks away.