Janet Yellen’s colleagues and friends at the University of California at Berkeley on Wednesday celebrated her nomination by President Barack Obama to be the next chair of the Federal Reserve.
President Barack Obama says that in Janet Yellen he’s found a tough and proven leader to take over as chairman of the Federal Reserve.
President Barack Obama will nominate Federal Reserve vice chair and University of California, Berkeley professor emeritus Janet Yellen to succeed Ben Bernanke as chairman of the nation’s central bank.
Federal Reserve Vice Chair Janet Yellen – a Bay Area local – is once again the odds-on favorite to become the next chair of the Federal Reserve, now that President Barack Obama’s preferred candidate, former adviser Larry Summers, has stepped out of the race.
The Federal Reserve projects the unemployment rate will stay elevated until late 2015, suggesting it will keep short-term interest rates low for the next three years.
On Monday, the Treasury Department sold 553,846,153 shares in AIG on Monday, turning an $18 billion profit on the $32.50 a share price.
Occupy San Francisco protesters spent the night unsuccessfully trying to set up tents at the site of their former encampment in Justin Herman Plaza.
San Francisco public works crews have removed tents at two Occupy encampments in the city.
WASHINGTON (AP) _ More worried about the recovery, the Federal Reserve took a small step Tuesday to bolster the economy.