Yellen follows in contention, along with other names have emerged as possible candidates after the

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Stock Exchange Market celebrates withdrawal of Summers to head the Fed Bags advance in the U.S., Europe and Asia while President Barack spanish to english Obama decides who will be the next head of the monetary authority
The stock exchanges in major world markets operate higher on Monday and the reason is, according to analysts, the withdrawal of the economist Larry Summers spanish to english to run for president of the Federal Reserve (Fed, the U.S. central spanish to english bank). The consensus is that, with the departure of Summers, the current vice chairman of the Fed, Janet Yellen, is as listed for the post, which indicates a policy spanish to english of continuity in monetary authority American, considering that Yellen is right arm of the current head of the agency, Ben Bernanke.
Asian stocks ended the trading session high. The MSCI that gathers the main activities of the Asia-Pacific (excluding Japan) closed up 1.8% on Monday. In Europe, the Stoxx 600 advancing 0.7%, while the FTSE 100 climbed 0.54%.
In the U.S., the S & P 500 accumulated gains of 0.84% in the early afternoon, while the Dow Jones rose 1.08%. The stock of technology companies Nasdaq also progressed, but at a slower pace, to 0.4%. In Brazil, the Bovespa rose 0.62% at 13 hours on Monday.
Summers is a former Treasury secretary and a leading economic advisers of governments of Bill Clinton, George W. Bush and Barack Obama. He was also president of Harvard University, in addition to head the National Council U.S. Business and being chief economist of the World Bank.
His unquestionable technical ability, however, was not enough to placate rancidity awakening in the economic community and the Democratic Party. Considered moody, aggressive and arrogant, Summers had an aversion of public opinion rarely seen during the process of choosing the head of the Fed
As the preference of the White House by Summers had become a certainty, both the Congress and leading economists on the attack. Last week, more than 350 economists sent an open letter to President Obama asking that Summers was not considered for the position, citing his involvement in the process of banking deregulation that led to the 2008 financial crisis.
Already the Democratic members of the Senate Banking Committee American, who must vote to approve the appointment of the chairman of the Fed also said it would not support the nomination of Summers. On Saturday, the day before the resignation of the economist to candidacy, the magazine 'National Journal', which runs weekly in nine out of ten rooms of Washington, spanish to english put Summers on the cover with a sign "forbidden". The report explained the reasons spanish to english for the economist, despite being brilliant, not merit the charge.
Yellen follows in contention, along with other names have emerged as possible candidates after the departure of Summers, spanish to english and former vice chairman of the Fed, Don Kohn, former Treasury Secretary Timothy Geithner, former president of the central bank Israel, Stanley Sischer and another former member of the Fed, Roger Ferguson. So far, Obama interviewed spanish to english only Yellen and Kohn.
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