10-09-2013, 11:50 AM
Janet Yellen will be Obama's nominee to lead the Fed Reserve when Bernanke's term expires in January. She was his third choice (his first choice wasn't interested and his second choice was not supported by the party).
![[Image: 130918102955-n-who-is-janet-yellen-feder...20x348.jpg]](http://i2.cdn.turner.com/money/dam/assets/130918102955-n-who-is-janet-yellen-federal-reserve-00010127-620x348.jpg)
She'll be the first woman in the position; strong qualifications and resume - it's not expected that her nomination will be challenged. She's also currently Bernanke's second in charge.
It's a helluva tough and powerful position. Yellen will be inheriting 6 years of monetary stimulus strategies, suppressed interest rates, high domestic and international debt, etc... Will she continue to advocate for fed intervention in attempt to stimulate job growth (she's been a leader of that strategy) or switch gears to scale back on govt spending?
Hoping the shutdown is over by the time her term starts (kidding, kind of).
Ref:
http://www.washingtonpost.com/blogs/wonk...fed-chair/
She'll be the first woman in the position; strong qualifications and resume - it's not expected that her nomination will be challenged. She's also currently Bernanke's second in charge.
It's a helluva tough and powerful position. Yellen will be inheriting 6 years of monetary stimulus strategies, suppressed interest rates, high domestic and international debt, etc... Will she continue to advocate for fed intervention in attempt to stimulate job growth (she's been a leader of that strategy) or switch gears to scale back on govt spending?
Hoping the shutdown is over by the time her term starts (kidding, kind of).
Ref:
http://www.washingtonpost.com/blogs/wonk...fed-chair/