A Rarity: A Democrat to Lead the Fed

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from The New York Times,

FOR more than a quarter century, Republicans have held a lock on two of the most important jobs in the federal government.

Since Alan Greenspan became the chairman of the Federal Reserve in 1987, no Democrat has held the job, despite the election and re-election of two Democratic presidents in that time. The Republican hold on the office of chief justice of the United States has lasted even longer, all the way back to the 1950s.

Now President Obama seems poised to end one of those streaks — at the Fed. His selection process so far has been dominated by debate over whether he should choose Lawrence H. Summers, a lightning rod for both criticism and admiration, or Janet Yellen, the Fed’s current vice chairwoman.

Whatever their differences, though, both are clearly Democrats (as are several longer-shot candidates). Mr. Summers and Ms. Yellen have each spoken about the ills of inequality and the economic role for government.

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