Today, President Obama nominated Dr. Janet Yellen to
succeed Ben Bernanke as Chair of the Board of Governors of the Federal
Reserve. Dr. Yellen has served in leadership positions at the Fed for
more than a decade, including the last three years as Vice Chair. She also
served previously as the Chair of the Council of Economic Advisers, and was a
leading researcher in monetary economics at Harvard and Berkely.
In government, Dr. Yellen has been known for her sound
judgment and ability to build consensus. As an academic, she made critical
contributions to understanding how monetary policy can make a difference for
jobs, growth and the lives of ordinary people. 505 economists from more than
211 colleges and universities—including some of the country’s leading monetary
economists—have signed a letter endorsing her for Fed Chair.
If confirmed by the Senate, Dr. Yellin would be the
first woman to hold the position of Chair of the Board of Governors of the
Federal Reserve.
The White House Blog.
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