Bloomberg -- Aides to President Barack Obama and Senate Majority Leader Harry Reid discussed the process of choosing the next U.S. Federal Reserve chairman in the wake of a letter from some chamber Democrats touting one contender, according to a person familiar with the conversations.
The letter, signed last month by 19 Senate Democrats and one independent who caucuses with the party, urged Obama to nominate Fed Vice Chairman Janet Yellen to succeed Ben S. Bernanke, whose term expires Jan. 31. The letter emerged amid criticism from some Democrats of another possible contender, Lawrence Summers, who had served as Obamas first National Economic Council director.
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