Larry Summers and Janet Yellen would both lead the Fed well. But Ms Yellen is the safer choice BARACK OBAMA will soon make one of the biggest economic decisions of his presidency: who should replace Ben Bernanke as chairman of the Federal Reserve. Since America’s monetary decisions reverberate far beyond its borders, the world has an interest in having the best person in that job.
Federal Reserve Vice Chairman Janet Yellen is the most qualified and most likely candidate to run the central bank, according to the majority of private economists in a Bloomberg News survey that showed Lawrence Summers trailing by wide margins in both categories.
WASHINGTON (Reuters) - The most revealing thing about Janet Yellen's widely praised Senate confirmation hearing performance last week might not have been what she said, but what she didn't say - and how she didn't say it.
WASHINGTON — The U.S. Senate Banking Committee on Thursday approved Janet Yellen’s nomination to become the first woman to lead the Federal Reserve, sending it to the full Senate for a final vote.
If she is confirmed, as is widely expected, the current No. 2 at the U.S. central bank will replace its chairman, Ben Bernanke, when his term expires on Jan. 31, making her the most powerful woman in world finance.
The vote was 14 in favour and 8 against. Three Republicans voted in favour of her nomination and one Democrat voted against.
OTTAWA — She won’t start her new job for another couple of months, but Janet Yellen already has her work cut out.
Winning the support of President Barack Obama, who nominated her, might have been the easiest part. Facing the scrutiny of U.S. lawmakers on Thursday was more like a baptism-under-fire moment.
Ms. Yellen’s confirmation as Ben Bernanke’s successor is not in question. She’s one of the most qualified candidates — and the first woman — selected as chairman of the world’s most powerful central bank.
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Janet Yellen, President Barack Obama's nominee to lead the U.S. Federal Reserve, will offer a stout defense on Thursday of the central bank's aggressive monetary easing before a Senate panel that includes some tough Republican critics. At a Senate Banking Committee hearing on her nomination to be the first woman to run the nation's central bank, Yellen is likely to remain vague on future Fed actions. But she will look to head off calls for the Fed to back away from its muscular efforts to spur stronger economic growth and lower unemployment.