MONETARY POLICY: GOP KEEPS ITS POWDER DRY ON SUMMERS’ CANDIDACY FOR FED CHAIRMAN

Many Democrats and liberal groups are speaking out in an effort to stop Larry Summers’s nomination as Federal Reserve chairman before it gets started. Republicans, for now, are happy to watch as President Obama spends political capital on a process that is usually routine. But if Summers gets the official nomination, expect the GOP opposition to become just as fierce and vocal as the Democratic insurrection has been so far.

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