Just this morning, I sent a message to Chuck Schumer, reminding him that Larry Summers bore significant responsibility for the crisis of 2008. Summers was one of the great champions of bank deregulation during the Clinton administration, and we all know where that got us.
Thanks to a few Democratic senators not attached by an umbilicus to Wall Street (Schumer not among them), it seems Larry got a little nervous. He's not accustomed to rejection, and doesn't handle it well. Anyway, I'm especially glad the next Fed chair is likely to be Janet Yellen. According to Larry, girls don't do math.
If Barack picks that other "potential," whose name I can't remember now, I hope Michelle gets Barack alone in some remote room in the White House (the Fillmore room?) and beats his ass. I don't support Yellen because she's a woman, but because she will provide the kind of continuity we need to get out of our current mess. I hope she will lead in establishing some regulations Bernanke thought were out of reach, without throwing everything out of kilter.
Can the Fed address income inequality? Really, I don't see how. That's Congress's job, and the "People's House," like the people, are mostly assholes. (By the way, the three most assaholic members of the House were in Egypt last week, blaming the Muslim Brotherhood for 9/11. The people who vote for Louie Gohmert, Michelle Bachman, and Steven King, in my opinion, are excellent arguments against representative democracy.)