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As for whom he would prefer as chairman, Yellen or Summers, Bullard, also interviewed on CNBC, struck a diplomatic note. They're both "great economists," he said. ___ Yellen did have a modest role to play at this year's conference, serving as the moderator for Saturday's session. It was a job she performed with fair minded diligence. "My job today is to be a ruthless time keeper," she told the crowd in her opening comments. And she kept to her word, turning over numbered cards signaling to the presenters how much time they had left to present papers on such esoteric topics as global liquidity and cross-border capital flows. She then had the job of picking the lucky participants in the audience who got to ask questions. At one point, she called on Donald Kohn, her predecessor as vice chairman at the Federal Reserve and one of three names President Barack Obama has provided as the leading candidates for the Fed chairman's job. Yellen and Summers are the other two. Yellen didn't offer any substantive comments during her moderating stint, but there was one brief moment she had to have enjoyed. Acknowledging her introduction, Princeton economics professor Jean-Pierre Landau said, "Thank you very much, Madam Chairman." Ah. Music to her ears. ___ At the opening dinner Thursday night, Esther George, who as head of the Kansas City regional Fed bank is the conference host, had some fun with the topic of Bernanke's absence. "Sometimes," George said in her welcoming remarks, "those who regularly
attend are not able to make it. We make it a practice never to talk about
those who turn us down. "Despite my personal disappointment," she went on, she'd be happy to welcome back Ken Rogoff for future conferences. Her mention of Rogoff, a well-known Harvard economist, rather than Bernanke, drew laughter from the audience. Call it economists' humor.
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