Larry Summers has dropped out of contention to head the Federal Reserve . David Gergen : Process of filling the crucially important job has been shameful . Without rehashing the debate -- and because I am no economist -- let me just suggest a different way to look at him . The Fed is a political institution, and it's not clear that Bernanke would be able to get through his confirmation hearings without being accused by Republicans in Congress of trying to rig monetary policy for himself Gergen : President Obama should now nominate Janet Yellen for the post .
Larry Summers has dropped out of contention to head the Federal Reserve . David Gergen : Process of filling the crucially important job has been shameful . The Fed is a political institution, and it's not clear that Bernanke would be able to get through his confirmation hearings without being accused by Republicans in Congress of trying to rig monetary policy for himself Gergen : President Obama should now nominate Janet Yellen for the post .