"UPDATE 2-Democrats harden opposition against Summers for U.S. Fed
Sat Sep 14, 2013 4:18am IST
By Alister Bull and Rachelle Younglai
in.reuters.com
(Reuters) - Four Democrats on the Senate Banking Committee are now expected to vote "no" if President Barack Obama nominates former economics adviser Lawrence Summers to be the next chair of the Federal Reserve, complicating one of the most vital decisions of his second term.
Jon Tester on Friday became the latest member to publicly announce his opposition, taking to three the number of senators on the committee who are known to be against Summers, while a fourth, Elizabeth Warren, is also expected to be a "no" vote.
"Senator Tester believes we need a consensus builder to lead the Federal Reserve. He's concerned about Mr. Summers' history of helping to deregulate financial markets," said Andrea Helling, spokeswoman for the Montana Democrat.
Summers is widely thought to be Obama's preferred choice to replace Fed Chairman Ben Bernanke when his term ends in January. The White House said on Friday that the president had not yet made a decision."...
