I never thought I'd see the day...
I take this to mean Krugman backs Summers for Fed Chair/is trying to get in good with the White House...
Annoyed with the way Bernanke injected himself into the health care debate, by warning about long-term fiscal deficits (while simultaneously being a bit too slow on the QE, which would also help alleviate long-term debt), I'm also starting to come around to the idea of Summers at Fed. Not in an ideal world, of course, (and he wouldn't be my top pick) but it at least would get him out of the White House. The question is: Where would he do the least amount of damage?
And, although here at 'Economists for Firing Larry Summers', we do love Summers' infamous smackdown of the worthless RBC model, the critique (which Krugman links), was not quite 100% spot on. I'd post more, but, alas, the summer conference season is upon us, and it's time to work on those journal pubs...
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The thought of Larry Summers as Fed Chairman is almost too much to bear.
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