Bookmakers give Summers a 70% chance of becoming the next Fed Chairman while Yellen's odds hit new low

Bookmakers give Summers a 70% chance of becoming the next Fed Chairman while Yellen's odds hit new low. Months ago, Janet Yellen was by far the clear favorite to become the next head of the Federal Reserve. Things have changed dramatically, at least according to the odds set by bookmaker and betting service Paddy Power. With about a month left before Obama announces the next head, Larry Summers has a 70% chance of taking over. At the same time, Yellen's odds are about 29%, her worst chances ever. Unless Obama starts dramatically changing his rhetoric or opinions on the candidates, expect Summers to be the new Fed Chairman. (VIEW LINK)