Wednesday, October 09, 2013

Yellin' for Yellen!

J-Dawg's high school yearbook entry

Obama Names Yellen for Fed, Just as Fiscal Battle Heats Up
President Obama on Wednesday announced one of his most important economic decisions, nominating Janet L. Yellen to lead the Federal Reserve system and be his independent co-steward of the American economy. He called her “one of the nation’s foremost economists and policy makers.” 
Ms. Yellen, 67, who would be elevated from her current position as the Fed’s vice chairwoman if the Senate confirms her nomination for a four-year term, would be the first woman to lead the Fed. She joined Mr. Obama before the cameras in the State Dining Room of the White House for the formal announcement. With them was the retiring chairman, Ben S. Bernanke, whom the president hailed for helping to guide the economy through the worst recession and financial crisis since the Depression. 
“I could not be more grateful for his extraordinary service,” Mr. Obama said. 
As for the woman he has chosen to replace Mr. Bernanke, the president said that Ms. Yellen was “renowned for her good judgment,” and that she sounded early alarms about the financial and housing bubbles that caused the economy’s near-collapse in 2008. 
“Given the urgent economic challenges facing our nation, I urge the Senate to confirm Janet without delay,” Mr. Obama said. “I’m absolutely confident that she will be an exceptional chair of the Federal Reserve.”
The NYTimes Cityroom section has the info about Yellen's high school career
...the editors of The Tower, the yearbook of Fort Hamilton High School in Bay Ridge, Brooklyn, did not think Janet Yellen — who is poised to become the first woman ever to lead the Federal Reserve — merited the designation “Most Likely to Succeed.” Instead, she was named “Class Scholar.”