Obama's Defense Of Summers Not Tied To Fed Decision - White House

by
Reuters
White House spokesman Jay Carney said on Wednesday that any defense by President Barack Obama of former senior economic adviser Lawrence Summers' record should not be interpreted as a sign the president favors Summers to head the U.S. Federal Reserve.

White House

White House spokesman Jay Carney said on Wednesday that any defense by President Barack Obama of former senior economic adviser Lawrence Summers' record should not be interpreted as a sign the president favors Summers to head the U.S. Federal Reserve.

Obama's defense of Summers at meetings with lawmakers on Capitol Hill was to be expected given Summers' service as a senior administration official during the financial crisis, Carney said. Summers is considered a candidate to replace Fed Chairman Ben Bernanke when Bernanke's term expires in January.

"The president would defend that individual as I would," Carney told reporters at a briefing.

"You ought to take those kinds of statements and view them as what the president or I or others would say about somebody who was such an important and hard working member of the president's economic team, and separate them from speculation about a personnel announcement that will not be made before fall," he said.