NYT: Larry Summers Already Costing Jobs

Even before he has been officially designated as President Obama's pick to be Fed chair, Summers is already slowing the economy and costing jobs according to the New York Times. This remarkable possibility is due to the fact that investors do not see Summers being as committed to maintaining an easy money policy as the current Chair Ben Bernanke or his main rival Janet Yellen. The result is that interest rates are higher now in expectation of future rises. This is of course speculative, but i...