2013 Chair of the Federal Reserve

On October 9, 2013, Yellen was officially nominated to replace Bernanke as chair of the Federal Reserve, the first vice chair ever to be elevated to that post. While announcing his decision, President Obama called her "one of the nation's foremost economists and policymakers" and said that "America's workers and their families will have a champion in Janet Yellen." During the nomination hearings held in November, Yellen defended the more than $3 trillion in stimulus funds that the central bank had been injecting into the U.S. economy. She also said that it is important for the Fed to try to detect asset bubbles and that if she saw one, she would work to address it.

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Category:
Economics

Completion Status:
yes

Patent Number:
N/A

Co-Inventor:
None