Merkley Helps Derail Obama's Choice for Fed Chief

U.S. Sen. Jeff Merkley
By NIGEL JAQUISS

For a rookie U.S. Senator embarking on his first re-election campaign, U.S. Sen. Jeff Merkley (D-Ore.), is doing a great job of getting his name in the paper. 

His doing so by sticking his thumb in the eye of President Barack Obama and the many powerful interests on Wall Street and elsewhere who wanted to see Larry Summers succeed current Federal Reserve Chairman Ben Bernanke. The Federal Reserve chairman orchestrates this country's monetary policy and holds arguably the most important financial policy position in the world.

As has been widely reported, Merkley and Sen. Sherrod Brown (D-Ohio), members of the Senate Banking Committee, both bucked the president with public announcements that they would oppose Summers' appointment.

Here's how Bloomberg quoted Merkley on Sept. 12

Bill Clinton
withdrew.
said he'd oppose
there first.

WWeek 2015

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