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Larry Summers: 'I've moved on' from the Fed debate

Thursday, 24 Oct 2013 | 5:03 PM ET
Summers: 'I've moved on'
Thursday, 24 Oct 2013 | 4:56 PM ET
Larry Summers tells CNBC's Maria Bartiromo why he took his name out of the running to be the next chairman of the Federal Reserve.

Former Treasury Secretary Larry Summers thought it was "the right thing for the Federal Reserve" to withdraw his name from consideration for Fed chairman, he said on Thursday.

"Given where things were at that point I thought it was the right thing for the Federal Reserve and the country," Summers said in an interview on CNBC's "Closing Bell."

"I've moved on and am greatly enjoying private life," Summers said.

Summers withdrew his name from consideration in mid-September, opening the door for eventual nominee Janet Yellen.

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