So Larry Summers has withdrawn from the Fed race. No profound thoughts here, except that it’s really, really hard to see how Obama can justify not picking Janet Yellen at this point. Nobody else is as qualified; any other choice would look like spite.

Just a personal reaction: I’ve known Larry for all our adult lives, and looking at this sad play I realize how lucky I am to have reached a place where I’m no longer in the rat race. Obviously I’m plenty combative, and in a way still ambitious too; I do track my Twitter followers, wonder how each column will do on the most-emailed list, and all that. But there are no promotions I’m seeking, no honors I desperately desire that I don’t already have.

Nobody’s life feels from the inside the way it looks from the outside. But at least as far as career goes, I’m wonderfully relaxed: no more steps to climb, no more boxes to check. I just do what I feel I should, and try to have some fun along the way.

I’m a very lucky guy.