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Summers the odds-on favorite in bets for Fed chair

wochit politics
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August 13, 2013 AT 5:51 PM
Former U.S. Treasury Secretary Lawrence Summers has the inside track in the race to succeed Ben Bernanke as chairman of the Federal Reserve, betting at a popular online bookmaker suggests. Irish bookmaker Paddy Power offered odds of 1/2 for Summers. That translates to a view that Summers has about a 48 percent chance of being the next Fed chair, a spokesman for the firm said.