As of now, it is expected that the next Federal Reserve Chair will be Larry Summers, Janet Yellen, or Donald Kohn. Each of these economists has their own particular views on how monetary policy should operate, but they are all aligned in a similar school of economic thought. The three opinion articles linked here all give a slanted opinion about who should be the Federal Reserve chair. Generally however, Summers and Yellen have each had long careers publishing theoretical and/or applied work. Janet Yellen andLarry Summers published extensively, while Donald Kohn has essentially been a career central banker. Currently, it is believed that the front-runner is Larry Summers, however he may face a difficult confirmation fight in Congress, so the job may ultimately fall to someone else.
Questions you might consider
- Given each of these individuals has their own take on how monetary policy should operate, who should take the reins at the Fed and why?
- If you believe someone else should be Fed chair, give reasons why they might be the best person to lead the monetary policy of the U.S.
- What past monetary policy research have these economists done that makes you believe they are not good for the job?
- A Fed chair should have certain traits in order to be successful. In spite of these individuals long careers, what traits do you believe makes one of these candidates stand out as a good or bad candidate. Why does this trait separate them from the others?