This final note today, in which we learn government shutdown and debt limit notwithstanding, macroeconomic policy waits for no man.
Or woman, actually.
There is word from the White House this afternoon — not confirmed but widely reported nonetheless — that tomorrow President Obama’s going to nominate Janet Yellen to replace Ben Bernanke and run the Federal Reserve.
And, therefore, basically the American economy as well.
Yellen’s currently the vice-chair of the Fed.
As a Fed governor, she was known as an impressive debater, once arguing Alan Greenspan into agreeing that a little bit of inflation was a good thing. As a person, she’s often described as disarming. Kevin Hassett, now at the American Enterprise Institute, was a staffer at the Fed when Yellen was a governor there in the early ’90s. “She was unique among the governors,” he says, “in that she would come hang out in the lunchroom with the staff. She wasn’t one to put on airs.”
Here’s more from our profile of her work and background.
There’s a lot happening in the world. Through it all, Marketplace is here for you.
You rely on Marketplace to break down the world’s events and tell you how it affects you in a fact-based, approachable way. We rely on your financial support to keep making that possible.
Your donation today powers the independent journalism that you rely on. For just $5/month, you can help sustain Marketplace so we can keep reporting on the things that matter to you.
