As Summers' odds rise, investors left guessing
The potential nomination of Larry Summers as the next chairman of the Federal Reserve has investors guessing as to how he would lead. In recent years, Summers has provided little information on his monetary policy stance, leaving investors uncertain.
"People don't know what Larry might do," said Mohamed El-Erian, chief executive of Pimco, the giant bond fund manager. "There's a lack of a lot of information on Larry's views. We don't have enough information to make an assessment, just some second- and third-hand accounts."