Former U.S. Treasury Secretary Larry Summers turned down an offer to lead the Bank of Israel, as quoted by Business Insider on Saturday, October 19.
Previously, Reuters said that Israel’s Prime Minister Benjamin Netanyahu had announced that he would like to see the former Harvard president to be at the helm of the central bank. The reasons why Summers declined the job offer were not revealed.
Larry Summers ruling the U.S. Treasury in 1999-2001 was considered as one of the major candidates for the Fed’s chairman. However, the fortune did not smile on him. Barack Obama proposed former vice chair Janet Yellen for the Fed’s governor.
Benjamin Netanyahu was expected to disclose the name of new CEO, who will succeed Stanley Fischer, on Monday, October 20. It is worthy of note that the latter was the Bank of Israel’s governor in 2006-2011.
