Women's Groups Pressure Congress to Back Yellen, Oppose Summers

Friday, 30 Aug 2013 09:10 AM

By Dan Weil

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Women's groups are turning up the heat on friends in Congress to support Janet Yellen as the next Federal Reserve Chairman and oppose Lawrence Summers.

Yellen is now vice chairwoman of the Fed. Summers served as an economic adviser to President Barack Obama and is now a professor at Harvard.

Yellen and Summers are thought to be the two leading candidates for the job to succeed Ben Bernanke, and Obama is expected to make his decision in the fall.

Editor’s Note:
Forbes Columnist: ‘Who the Hell Cleared This?’ (See Shocking Video)

Representatives and donors of women's groups already have contacted the offices of least nine Democratic senators to make their views known, sources tell Politico, as the Senate will vote to confirm Obama's nominee for Fed chairman.

That list includes Sens. Elizabeth Warren of Massachusetts, Kirsten Gillibrand of New York, Dianne Feinstein of California and Debbie Stabenow of Michigan.

The National Organization of Women (NOW) even plans a grass roots effort for Yellen and against Summers, according to Politico.

"He's a sexist who isn't that good at his job," NOW President Terry O'Neill told the news service. "We are calling for the defeat of Larry Summers if he is the nominee. President Obama doesn't need to be re-elected but quite a few Democrats in Congress do."

When Summers was president of Harvard, he said in a speech that "innate" differences between men and women might explain why fewer women reach top positions in math and science, Bloomberg reported.

As for Yellen, she portrays herself as the underdog in the contest and is unsettled that the process is turning into a heated public battle, people who have spoken to her tell The Wall Street Journal.

Editor’s Note: Forbes Columnist: ‘Who the Hell Cleared This?’ (See Shocking Video)

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