Larry Summers has withdrawn his name from consideration to succeed Ben Bernanke as the next chair of the Federal Reserve. Summers, a former economic adviser to President Obama and treasury secretary under President Bill Clinton, was seen as the lead contender for the post, but several key Democrats had voiced opposition to the prospect of his nomination. Summers drew criticism over his role in pushing deregulatory policies that helped cause the financial crisis and for his suggestion while president of Harvard University that women have less innate scientific ability than men. In a letter to Obama Sunday, Summers wrote: “I have reluctantly concluded that any possible confirmation process for me would be acrimonious.” Speculation now shifts to other top candidates, including Federal Reserve Vice Chair Janet Yellen.