Frontrunner for Fed chair Larry Summers pulls out of race
(次期FRB議長最有力候補のサマーズ、脱落)
By James Titcomb
Telegraph: 10:27PM BST 15 Sep 2013
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(次期FRB議長最有力候補のサマーズ、脱落)
By James Titcomb
Telegraph: 10:27PM BST 15 Sep 2013
Larry Summers, the apparent frontrunner to succeed Ben Bernanke as the next chairman of the US Federal Reserve, has pulled out of the race in dramatic fashion.
次期FRB議長として最有力候補だったラリー・サマーズが劇的に脱落しました。
Mr Summers, a former US Treasury Secretary and policy adviser to Barack Obama, on Sunday phoned the US President to notify him that he no longer wanted to be considered for the most powerful role in central banking.
大統領の政策顧問であるサマーズ元財務長官は日曜日、オバマ大統領に電話で辞退を告げました。
His shock withdrawal appears to place Janet Yellen, Mr Bernanke's second-in-command, in pole position to win the President's nomination. Ms Yellen would be the first female leader of the Fed in its 100-year history.
この衝撃的事態により、二番手のジャネット・イェレン氏は最有力候補となりました。
イェレン氏が議長に就任すれば、100年の歴史を有するFRB初の女性議長となります。
In a letter sent to Mr Obama yesterday, Mr Summers said: "I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the administration or, ultimately, the interests of the nation's ongoing economic recovery."
昨日、オバマ大統領に宛てた書簡の中で、サマーズ氏はこう述べています。
「残念ながら、確認手続きは私にとって手厳しいと思われ、FRB、政権、そして景気回復を遂げつつある国家の利益にならないとの結論に達した」
Although the White House was believed to have favoured his appointment, several Democratic senators opposed nominating Mr Summers due to his history of financial de-regulation.
ホワイトハウスはサマーズ氏を支持していたと考えられていますが、民主党上院議員の一部は彼が行った規制緩和を理由に反対を表明していました。
During his time at the Treasury, Mr Summers repealed parts of the 1933 Glass-Steagall Act, which separated retail and investment banking. The move is criticised by Mr Summers' opponents as one of the key factors that led to the financial crisis.
財務長官の任期中、サマーズ氏はグラス・スティーガル法を一部廃止しました。
反対派は、これが金融危機の主要因の一つだとしています。
"Larry was a critical member of my team as we faced down the worst economic crisis since the Great Depression, and it was in no small part because of his expertise, wisdom and leadership that we wrestled the economy back to growth and made the kind of progress we are seeing today," the President said.
「ラリーは、大恐慌以来最悪の危機に直面する中で、私のチームの重要メンバーだった。また、彼の専門性、知恵、指導力のおかげで経済は再び成長に向かい、今のような進歩が見られるようになった」と大統領は述べています。
The dollar fell on the news, with the value of a pound rising from $1.588 to $1.595.
このニュースに米ドルは値下がりし、英ポンドは1.588ドルから1.595ドルまで上昇しました。
Ms Yellen, who has been vice chairman of the Fed since 2010, is considered a monetary "dove", more concerned with stimulating output and reducing unemployment than by inflation.
2010年からFRBの副議長を務めるイェレン氏は金融「ハト派」とされており、インフレよりも生産促進と失業者削減を懸念しています。
A new chairman is set to be nominated by the President as early as this month and must be approved by the 22-member Senate Banking Committee, 12 of which are currently Democrats. Mr Bernanke's term expires at the end of January.
次期議長は早ければ今月中に大統領に任命される予定で、上院銀行委員会のメンバー22名に承認されなければなりません(現在は内12名が民主党)。
バーナンキFRB議長の任期は1月末までです。