Obama picks woman to head the U.S. Federal Reserve

[yota691]

Obama picks woman to head the U.S. Federal Reserve

 

 

 

U.S. Central Bank President Janet Yellen

11:49

9

October

2013

WASHINGTON - Agencies

Prepares U.S. President Barack Obama , on Wednesday, to set Janet Yellen at the head of the U.S. central bank, "the Fed" to become the first woman to hold this position in the United States .

It was announced in the White House official, Obama will announce the appointment at the headquarters of the U.S. government at 19:00 GMT, at a ceremony attended by the current president of the Federal Reserve Ben Bernanke.

Janet Yellen was "67," which occupies the position of deputy governor of the Central Bank since 2010, the front-runner in the race after the abandonment of Larry Summers from office, a second man in the bank is currently the most prominent former economic adviser to Obama.

The because of criticisms unit and the opposition Democratic Congress, while Congress is supposed to approve the choice of the President, Summers pulled out of the race on September 15.

And unrelenting considered one of the "doves" in the Fed's focus on the issue of unemployment more than inflation. I have always supported the approach adopted by the monetary Ben Bernanke and represents a continuation of this policy.

It is assumed that the U.S. Senate ratified the appointment in a period of great tension about the U.S. budget between Republicans and Democrats in Congress.

 

[waterman13]

http://en.wikipedia.org/wiki/Janet_Yellen

Janet Yellen

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Janet Yellen Vice Chairperson of the Federal Reserve System Incumbent Assumed office
October 4, 2010 President Barack Obama Preceded by Donald Kohn Chairperson of the Council of Economic Advisers In office
February 18, 1997 – August 3, 1999 President Bill Clinton Preceded by Joseph Stiglitz Succeeded by Martin Baily Personal details Born Janet Louise Yellen
August 13, 1946 (age 67)
New York City, New York U.S. Political party Democratic Spouse(s) George Akerlof Alma mater Brown University
Yale University Religion Jewish

Janet Louise Yellen (born August 13, 1946) is an American economist and professor who is the Vice Chair of the Board of Governors of the Federal Reserve System. Previously, she was President and Chief Executive Officer of the Federal Reserve Bank of San Francisco, Chair of the White House Council of Economic Advisers under President Bill Clinton, and Professor Emerita at the University of California, Berkeley's Haas School of Business.

Contents

• 1 Early life and education
• 2 Career
  • 2.1 Vice Chairwoman
• 3 Honors and awards
• 4 Positions held
• 5 External service and assignments
• 6 Selected works
• 7 References
• 8 External links

Early life and education

Yellen was born in Brooklyn, New York, the daughter of Anna (née Blumenthal) and Julius Yellen, a doctor.^[1] She graduated from Fort Hamilton High School in the Bay Ridge section of Brooklyn.^[2] 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 Jewish,^[3] and is married to George Akerlof, a Nobel prize-winning economist and professor emeritus at the University of California, Berkeley. Her son, Robert Akerlof is an assistant professor at the University of Warwick.^[4]

Career

Yellen was an assistant professor at Harvard in 1971–76 and an economist with the Federal Reserve Board of Governors in 1977–78.^[5]

Beginning in 1980, Yellen has been conducting research at the Haas School and teaching macroeconomics to full-time and part-time MBA and undergraduates students. She is now a Professor Emeritus at the University of California, Berkeley's Haas School of Business, where she was named Eugene E. and Catherine M. Trefethen Professor of Business and Professor of Economics. Twice she has been awarded the Haas School's outstanding teaching award.

Yellen served as chair of President Bill Clinton's Council of Economic Advisers from February 13, 1997^[6] to 1999, and was appointed as a member of the Federal Reserve System's Board of Governors from 1994 to 1997. She has taught at Harvard University and at the London School of Economics. Yellen serves as president of the Western Economic Association International and is a former vice president of the American Economic Association. She was a fellow of the Yale Corporation.

From June 14, 2004 until 2010 Yellen was the President and Chief Executive Officer of the Federal Reserve Bank of San Francisco. She was a voting member of the Federal Open Market Committee (FOMC) in 2009.

Yellen is considered by many on Wall Street to be a "dove" (more concerned with unemployment than with inflation) and as such to be less likely to advocate Federal Reserve interest rate hikes, as compared, for example, to William Poole (former St. Louis Fed president) a "hawk" (see definitions under Inflation).^[7]

In July 2009, Yellen was mentioned as a potential successor to Ben Bernanke as chair of the Federal Reserve System, before he was renominated by Barack Obama.^[8] On September 17, 2013, a day after it was confirmed that Lawrence Summers was no longer likely to be appointed to succeed Ben Bernanke, Yellen was widely recognized as the next top pick by U.S. Senate Democrats.^[9]

Vice Chairwoman

Yellen sworn in by Fed Chairman Ben Bernanke in October 2010.

On April 28, 2010, President Obama nominated Yellen to succeed Donald Kohn as vice-chair of the Federal Reserve System.^[10] In July, "the Senate Banking Committee voted 17 to 6 to confirm her, though the top Republican on the panel, Senator Richard C. Shelby of Alabama, voted no, saying he believed Yellen had an 'inflationary bias'." At the same time, on the heels of related testimony by Fed chair Bernanke, FOMC voting member James B. Bullard of the St. Louis Fed made a statement that the U.S. economy was "at risk of becoming 'enmeshed in a Japanese-style deflationary outcome within the next several years'". Bullard's statement was interpreted as a possible shift within the FOMC balance between inflation hawks and doves. Yellen's pending confirmation, along with those of Peter A. Diamond and Sarah Bloom Raskin to fill vacancies, was seen as possibly furthering such a shift in the FOMC. All three nominations were seen as "on track to be confirmed by the Senate".^[11]

On October 4, 2010, Yellen was sworn in for a 4-year term ending October 4, 2014. Yellen simultaneously began a 14-year term as a member of the Federal Reserve Board that will expire January 31, 2024.^{[citation needed]}

Honors and awards

Yellen received the Wilbur Cross Medal from Yale in 1997, an honorary Doctor of Laws degree from Brown in 1998, and an honorary Doctor of Humane Letters from Bard College in 2000.

In October 2010, she received the prestigious Adam Smith Award from the National Association for Business Economics (NABE).^[12]

In 2012, she was elected Distinguished Fellow of the American Economic Association.

In September 2012, she was included in the 50 Most Influential list of Bloomberg Markets Magazine.

Positions held

This article contains a list of works that does not follow the Manual of Style for lists of works (often, though not always, due to being in reverse-chronological order) and may need cleanup.

• 2010–present Vice Chair, Board of Governors, Federal Reserve System
• 2004–2010 President and CEO, Federal Reserve Bank of San Francisco
• 1997–1999 Chairwoman, President's Council of Economic Advisers
• 1994–1997 Member, Board of Governors of the Federal Reserve System
• 1985–present Professor, Haas School of Business, UC Berkeley
• 1982–1985 Associate Professor, Haas School of Business, UC Berkeley
• 1980–1982 Assistant Professor, Haas School of Business, UC Berkeley
• 1978–1980 Lecturer, London School of Economics and Political Science
• 1977–1978 Economist, Division of International Finance, Trade and Financial Studies Section, Board of Governors of the Federal Reserve System
• 1971–1976 Assistant Professor, Department of Economics, Harvard University
• 1974 Research Fellow, Massachusetts Institute of Technology

External service and assignments

• President and CEO, Federal Reserve Bank of San Francisco
• Fellow, American Academy of Arts and Sciences, 2001
• Vice President, Western Economics Association, 2001
• Fellow, Yale Corporation 2000–
• Member, National Academy of Sciences Panel on Ensuring the Best Presidential Science and Technology Appointments, 2000
• Research Associate, National Bureau of Economic Research, 1999–
• Advisory Board, Center for International Political Economy, 1999–
• Advisory Board, Brookings Panel on Economic Activity, 1999
• Chairwoman: Economic Policy Committee of the Organization for Economic Cooperation and Development 1997–1999
• President's Interagency Committee on Women's Business Enterprise (1997)
• Member and adviser: Brookings Panel on Economic Activity (senior advisor); Advisor Panel in Economics, National Science Foundation;
• Adviser: Congressional Budget Office
• Research fellow: Yale University, and Massachusetts Institute of Technology
• Trustee of the Economists for Peace and Security

Anyone see a trend in the last three Fed chairpersons?

Yellen

Bernanke

Greenspan

Edited October 9, 2013 by waterman13

[waterman13]

Anyone?

Edited October 9, 2013 by waterman13

[tigerstripes]

Anyone?

 

I wasn't going to bother, but seeing as you're being persistant..............why don't don't you give us your take?

 

 

Regardless, I'm sure this will be painted as bad appointment because it was made by Obama.

[waterman13]

Has nothing to do with Obama.

[tigerstripes]

Has nothing to do with Obama.

 

I don't for one second think that that was the link you were looking for.

That's why I began the second sentence of my post with "Regardless".

 

So, what's the link you're seeing?

[waterman13]

Not going to say, don't want to be painted as a racist, or someone who is against a certain "race" of people. Or someone claiming to be someone or something.

Just sayin' Who is in charge of the Federal Reserve Bank?

Wm13

[tigerstripes]

Not going to say, don't want to be painted as a racist, or someone who is against a certain "race" of people. Or someone claiming to be someone or something.

Just sayin' Who is in charge of the Federal Reserve Bank?

Wm13

 

So, apart from your whole "non-racist" thing, can you give a reason why she shouldn't be appointed to the position.

Or, can you nominate somebody who is more qualified and suitable?

 

Maybe somebody whose not so aligned to your whole "non-racist" race?

 

 

 

 

Oh, and if you didn't want to be painted as a racist, perhaps you should have kept your antisemtism to yourself.

[waterman13]

It's not about antisemitism, it's about control of this country! Control of the so called money! 

I am an Israelite! Born of the seed of Jacob.

It's the synagogue of Satan I have a problem with. People who call themselves Jews and are NOT!

 

• Revelation 2:9 NKJV
  I know your works, tribulation, and poverty (but you are rich); and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.
• Revelation 3:9 NKJV
  Indeed I will make those of the synagogue of Satan, who say they are Jews and are not, but lie--indeed I will make them come and worship before your feet, and to know that I have loved you.

Wm13

[tigerstripes]

It's not about antisemitism, it's about control of this country! Control of the so called money! 

I am an Israelite! Born of the seed of Jacob.

It's the synagogue of Satan I have a problem with. People who call themselves Jews and are NOT!

 

• Revelation 2:9 NKJV
  I know your works, tribulation, and poverty (but you are rich); and I know the blasphemy of those who say they are Jews and are not, but are a synagogue of Satan.
• Revelation 3:9 NKJV
  Indeed I will make those of the synagogue of Satan, who say they are Jews and are not, but lie--indeed I will make them come and worship before your feet, and to know that I have loved you.

Wm13

 

Yeah, okay.

 

Look, I'm really not interested in you throwing scripture at me.

 

The post was about the President's nomination for head of the Federal Reserve.

 

I asked you if you could say why the person he nominated shouldn't be - apart from your "non-racist" thing.

I also asked if you had a preferred nomination.

 

Do you have any reason why Janet Yellen doesn't deserve the nomination? 

 

Apart from, you know........TEH JJOOOOOOOSSSSSSSS!!11!!1!

[waterman13]

I nominate to get rid of the FEDERAL RESERVE CORPORATION, Along with the UNITED STATES OF AMERICA CORPORATION! And, they can take the CORPORATION they tried to make me and shove it where the sun doesn't shine!

If you don't understand that then you are deceived (mr. or mrs tigerstripes)!

Wm13

[tigerstripes]

I nominate to get rid of the FEDERAL RESERVE CORPORATION, Along with the UNITED STATES OF AMERICA CORPORATION! And, they can take the CORPORATION they tried to make me and shove it where the sun doesn't shine!

If you don't understand that then you are deceived (mr. or mrs tigerstripes)!

Wm13

 

Do you understand why there is a United States Of America Corporation?

[Butifldrm]

I nominate to get rid of the FEDERAL RESERVE CORPORATION, Along with the UNITED STATES OF AMERICA CORPORATION! And, they can take the CORPORATION they tried to make me and shove it where the sun doesn't shine!

If you don't understand that then you are deceived (mr. or mrs tigerstripes)!

Wm13

 

Wm13 I agree, but not such an easy task.  See yellen is  about someone who is willing to keep printing the money!  See if the Fed quit printing the money, the entire Word's Economy would collapse!  That's why we are now seeing the BRICS Nations finally making a move to trade in their own currencies. They know the writings on the wall. They see the Fed pumping 85B into the economy every month buying treasury backed assets. It's a sad day when we have to buy our own debt.  The IMF's is now pleaing to not taper., because of it's affect on the world's markets including, emerging economies. Yellen = Bernanke  She's a printer.  Now the huge question is ?..... Why did Summers withdraw?  dah dah dah !  

Edited October 10, 2013 by Butifldrm

[Maggie123]

Wm13 I agree, but not such an easy task.  See yellen is  about someone who is willing to keep printing the money!  See if the Fed quit printing the money, the entire Word's Economy would collapse!  That's why we are now seeing the BRICS Nations finally making a move to trade in their own currencies. They know the writings on the wall. They see the Fed pumping 85B into the economy every month buying treasury backed assets. It's a sad day when we have to buy our own debt.  The IMF's is now pleaing to not taper., because of it's affect on the world's markets including, emerging economies. Yellen = Bernanke  She's a printer.  Now the huge question is ?..... Why did Summers withdraw?  dah dah dah !  

 

You got it Beautiful Dream. Thing is... it will collapse under its own weight. BRIC knows this.

 

85 Billion per month? Yep that is what it is taking to prop open the big 5 US banks doors.

 

It gulls me when people speak about "welfare freeloaders" when that is compared to what we are paying for "bankster welfare".

 

IMF is not our friend... nor does Iraq see them as their "friend" along with WTO or the World Bankster's Organization.

 

Can't really blame them can we.

[yota691]

A woman at the head of the Federal Reserve Board

Washington - AFP

Thursday, October 10, 2013

Prepares U.S. President Barack Obama to appoint Janet Yellen at the head of the Federal Reserve (central) to become the first woman to hold this position in the United States. An official at the White House that Obama has decided to announce her appointment at the headquarters of the U.S. government later yesterday, in a ceremony attended by the current council president Ben Bernanke.

The Janet Yellen (67 years), which occupies the position of deputy governor of the Central Bank since 2010, the front-runner in the race after the abandonment of Larry Summers from office, a second man in the bank currently chief economic adviser to Obama earlier.

The because of criticisms unit and opposition deputies Democrats, as Congress is supposed to approve the choice of the President, Summers pulled out of the race on 15 September. And unrelenting of 'doves' in the Federal Reserve and focuses on the issue of unemployment more than inflation. And has always supported the approach adopted by the monetary Bernanke and represents a continuation of this policy.

Five years after the 2008 crisis caused by the real estate sector loans of non-payment, the U.S. economy is still under the guise of the Federal Reserve, which wants to reduce its extraordinary support for the economy. Thus will receive the unrelenting task of reducing the injection of liquidity by the Federal Reserve, especially the purchase of treasury bonds and shares worth 85 billion dollars a month.

It is assumed that the U.S. Senate ratified the appointment in a period of great tension about the U.S. budget between Republicans and Democrats in Congress, led to the paralysis of the federal departments and stalemate on the issue of raising the debt ceiling of the country threatened default on payment. Obama defended always wanted to appoint women in top management positions as it did in the Supreme Court when he was appointed Sonia Sotomayor in 2009 and Elena Kagan in 2010.

At the height of its rival with Larry Summers in the campaign for the job, who described Obama occupied as «one of the most important political leaders in the world, has sided with a group of 30 democratically Sneathura, along with unrelenting in a letter to the President. And signed some 240 economists, including Nobel laureate of the economy Joseph Stiglitz and Almschartan, الاقتصاديتان of the Clinton administration, Alice Rivlin, and Christina Romer, an open letter to Obama provide support for the unrelenting.

In the evening the day before yesterday welcomed the Chairman of the Banking Committee in the Senate Democrat Tim Johnson White House's decision. The Senator said: 'I welcome the option of President Obama, who called Dr. Yellin to become the first woman to hold the presidency of the Federal Reserve', praising 'expertise that is unmatched. Johnson promised «to work with the members of the Committee to approve the appointment as soon as».

[Kaduku]

Just another CORRUPTION appointed by an IMPOSTER MUSLIM!!!

[waterman13]

Do you understand why there is a United States Of America Corporation?

Yes I do! Do you understand that "they" made you a CORPORATION too?

Wm13

[tigerstripes]

Yes I do!

 

Awesome!  Then you understand that it is actually to make the legal process easier.  If there was no USA Inc how, and very specifically "who" would you sue if for example the IRS was to incorrectly tax you?

 

Come to think of it, I think they should change their letterhead to USA INC.  The woos would have a field day.

 

Do you understand that "they" made you a CORPORATION too?

 

Let's pretend I've never heard of the Freemen theory.  Humor me.

If I can be bothered I'll dig up some old links, but, you know.."effort".

 

Wm13