Both Janet Yellen and Lawrence Summers have awe-inspiring credentials. So Obama's decision seems to come down to whose understanding of the economy most closely matches his own, and which candidate is likeliest to have people looking back years from now saying: "That was an inspired pick."
Source: http://www.npr.org/blogs/itsallpolitics/2013/07/31/207479957/obamas-fed-pick-quandary-whats-it-mean-for-his-legacy?ft=1&f=1014
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