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White House denies report Larry Summers is Fed choice

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The White House on Friday denied a media report that said President Obama has chosen former Treasury Secretary Lawrence Summers as his nominee for Federal Reserve chairman. Japan’s Nikkei newspaper, quoting unnamed sources, said Obama was "set to" tap Summers for the position as early as next week. “Fed watchers: the latest rumors this morning in the Japanese press aren't true — POTUS has not...

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