The Senate confirmed Janet Yellen on Monday as the first woman to lead the Federal Reserve, elevating an advocate of fighting unemployment and a backer of the central bank’s efforts to spur the economy with low interest rates and massive bond purchases.
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.
Lawrence Summers’ withdrawal followed growing resistance from critics. His exit could open the door for his chief rival, Janet Yellen, the Fed’s vice chair.