Salient to Investors:

William D. Cohan writes:

Janet Yellen favors staying the course on QE. Larry Summers apparently prefers to begin winding down QE.

The Yellen-Summers debate is the latest example of a decades-long tug-of-war between those inside The Club (Summers) and those excluded from it (Yellen).

Almost all of Obama’s top economic advisers are Robert Rubin acolytes, including Summers.

The real issue over the choice of Fed chairman is whether Robert Rubin and The Club will continue to dominate economic appointments and preside over a recovery that favors the rich.

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