Obama to nominate Jewish economist Janet Yellen as new Fed chief

09 October 2013

US President Barack Obama is to nominate the Jewish economist Janet Yellen as new chair of the Federal Reserve, the country's central bank. Yellen, currently the number two in the Fed system, is set to become the world's most powerful economic policy-maker if confirmed by the Senate. Yellen is to succeed current Fed Chairman Ben Bernanke.

Yellen was born in Brooklyn, New York, the daughter of Anna (née Blumenthal) and Julius Yellen, a doctor. She graduated summa cum laude from Brown University with a degree in economics in 1967, and received her Ph.D. in economics from Yale University in 1971. Yellen is married to George Akerlof, a Nobel prize-winning economist and professor emeritus at the University of California, Berkeley.

Yellen taught at Berkeley for more than a decade before her first stint as a Federal Reserve Board governor from 1994 to 1997, a post she left to head President Bill Clinton's Council of Economic Advisers.

The nomination will put Yellen on course to be the first woman to lead the institution in its 100-year history. If confirmed she would succeed Bernanke in February 2014. Yellen is expected to continue with the policies the Fed has established under Bernanke. Analysts say she would move cautiously in reining in policies in place to shore up the world's largest economy.

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Comments

charles muthama

Wed, 15 Jan 2014

This is a welcome move in the Feds. Yellen is an outstanding economist and will indeed propel the worlds greatest economy to greater stability

judith

Tue, 07 Jan 2014

Why are there so many progressives. Why are all these people from clinton era.? We do not need anymore destoyers of America

Walter H. Steinlauf

Thu, 10 Oct 2013

She has a massive task ahead! I pray she is up to the trials ahead.

Dan Levi-Gomez

Wed, 09 Oct 2013

I am sure she will steer the economy ship correctly.

My best wishes for her and her program.

vivian lewis

Wed, 09 Oct 2013

Jewish economists have headed the Fed for ages. The big thing about Janet Yellen is not her religion but her sex!

Jim

Wed, 09 Oct 2013

It's good for obama to appoint Yellen. However, no-one seems to know anything about her. Does she support obamaism (that's dictator socialism), or can she think for herself?

If she gets the post only time will tell.

J.Ossewaarde

Wed, 09 Oct 2013

I think mr Obama made a good choice in nominating mrs Yellen