Wednesday, October 9, 2013

History in the Making: Janet Yellen Tapped to Become First Female Federal Reserve Chair

Janet Yellen
Later today,  President Obama is  scheduled to announce his nomination of Janet Yellen to serve as chair of the Federal Reserve.  This is history in the making-assuming Yellen's nomination is confirmed by the Senate.  Yellen would be the first woman to head the Federal Reserve in its 100-year history.

Yellen has a rich resume.  Yellen currently serves as the Federal Reserve's vice chair.  Previously, Yellen served as the president of the San Francisco Federal Reserve Branch.  Yellen previously served as chair of the Council of Economic Advisors in the 1990's during the Clinton Administration.  Yellen has taught economics at Cal Berkeley and the London School of Economics.  Most importantly, Yellen received her A.B. degree from my alma mater Brown University in Providence, Rhode Island.  Yellen received her Ph.D in Economics from Yale University-one of those other Ivy League institutions of dubious merit (you can add your own to the list-with the exception of Brown-you have six other choices).  Undoubtedly, Yellen brings an impeccable resume of past accomplishment to the table. 

Yellen's nomination comes on the heels of Larry Summers, President Clinton's Treasury Secretary, pulling his name from consideration as Fed Chair last week.  This is a step in a positive direction for the Obama Administration-who has been rightfully criticized for failure to promote women to key and meaningful positions within the government.  Male or female, Yellen's ability has been demonstrated through an incomparable record of service.  She is among the best people for the job.  I'm excited to hopefully see history being made.  Now, if only we could get Congress to end this government shutdown, and pass some meaningful legislation.....I guess that's asking for too much!!!  

1 comment:

  1. Here's an important fact that I omitted from this post-if confirmed Janet Yellen would be the first woman to lead the central bank of a large industrialized nation.