Summers Bails, Progressives Celebrate.

The article reports on the decision by economist Larry Summers to remove himself from consideration for chairman of the U.S. Federal Reserve Board, focusing on the opposition of progressive Democrats to his candidacy. U.S. Senators Sherrod Brown, Elizabeth Warren, and Jeff Merkley of the Senate Banking Committee indicated their intention to vote against Summers. It is argued that the nomination of Federal Reserve official Janet Yellin would improve President Barack Obama's economic policy.