News

Obama says Yellen is his choice to take over Fed

Obama says Yellen is his choice to take over Fed

FEDERAL RESERVE: If confirmed, Janet Yellen would be the first woman to lead the Federal Reserve. Photo: Associated Press

WASHINGTON (AP) — 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.

Yellen currently is No. 2 at the nation’s powerful central bank.

She would succeed outgoing Fed Chairman Ben Bernanke at a pivotal time for the economy and the bank’s monetary policies.

If confirmed by the Senate, the 67-year-old Yellen would be the first woman to head any country’s major central bank.

She emerged as the favorite for the post after former treasury secretary and White House favorite Lawrence Summers withdrew from consideration in the face of mounting opposition to him being Obama’s choice.

Bernanke will serve until his terms ends Jan. 31.

Recent Headlines

in Local

New Americorp Grads Ready to Serve

Courtesy of gooddeed.org

New class of Americorp volunteers make pledge during 20th year of program.

in Local

IDNR Program to Make Women Outdoor Enthusiasts Going Strong After 20 Years

Courtesy of IDNR

Becoming An Outdoors Woman is a popular program offered by the Illinois Department of Natural Resources.

in Local

IDOT Still Employs 173 Hired Improperly

IDOT

The IDOT document shows that 173 of the 245 people hired as "staff assistants" since 2002 still work for the state, including 161 at the transportation agency.

in Local

“Welcome Home Veterans” Marks Milestone

welcome-home-illinois-logo

Illinois is marking progress with a program that helps military personnel and veterans buy homes

in Local

Abused Women in Central Illinois Have Several Agencies Willing to Help

sojourn

Whether domestic violence is “trending” on social media or not, it’s going to hurt long after Ray Rice is forgotten