President Obama waves from the doorway of his Air Force One plane outside Stockholm, Sweden, on Thursday, on his way to the G-20 summit.
(USATODAY.com) - Former Treasury Secretary Lawrence Summers will be named the next chairman of the Federal Reserve by President Obama, according to a report in a Japanese newspaper.
The Nikkei newspaper, which did publicly name its sourcing for its story, said Obama was "set to" name Summers to the position, possibly as early as next week.
On Tuesday, more than 350 economists signed a letter to Obama calling on him to nominate Federal Reserve Vice Chair Janet Yellen to be the Fed's next chairman.
Obama is expected to announce his nomination as early as this month. Fed Chairman Ben Bernanke's term ends Jan. 31, 2014.