FOX Business Network (FBN) Senior Correspondent Charlie Gasparino reports that the decision over who will replace Federal Reserve Chairman Ben Bernanke will be made in “several weeks” and that Former National Economic Council Director Larry Summers is the favorite with the odds being described as 60-40. Gasparino went on to report, that “The White House continues to vet Larry Summers. They are looking specifically at his Wall Street ties.”

Charlie Gasparino

Charlie Gasparino on whether the next Federal Reserve Chairman will be Larry Summers:

“We are getting this from – I would say a White House source, a person very close to the White House who does work on Wall Street. I would describe it as a White House source. He is telling the FOX Business Network that the decision is going to be made – who to get this job in  several weeks… but what we understand is that Larry Summers this source says, is the odds on favorite. Let me describe the odds, as it was described to me, and it shows you why he is not necessarily in there yet.  It’s been described to me – and this is a very well played source as 60-40 that Larry Summers gets it… and here is the one thing that is going on right now that I think is kind of interesting. The White House continues to vet Larry Summers. They are looking specifically at his Wall Street ties. ”