Speculation has been rising in Washington in recent days that Roger Altman, the former deputy treasury secretary under Bill Clinton and chairman of Evercore, the New York financial advisory boutique, is in the mix for the position of National Economic Council director, left open by the departing Larry Summers.

The logic in favour of Mr Altman’s candidacy is undeniable. He already has economic policy experience at the highest levels, which would make him suitable to play the honest-broker role in terms of presenting options and advice to president Barack Obama. But has also spent the last fifteen years in the private sector, not only as leader of his own company but also nurturing relationships with clients including top executives from across the country. This make him an ideal choice if Mr Obama wants to improve relations with the business community over the next two years.

There are potential drawbacks to Mr Altman as NEC director. His appointment may upset the Democratic base, which doesn’t like the continuous return by Mr Obama to Clinton-era officials and would like to see more significant change towards the left in its economic policy thinking.

Then there is the question of whether Mr Altman would want the job. Read more