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

September Felt Warm, Didn’t It?


That's because it WAS warm

in Local

Civil War Tech


New program at ALPLM

in Local

Something Different: A Special Election for Comptroller


Munger, appointed a year ago, must run statewide in 2016 to keep her job

in Local

The Color Show Is Coming


Wherever you are, the best of it lasts about two weeks

in Local

You Need More Sleep!


7-9 hours recommended for most of us