Today, President Obama nominated Dr. Janet Yellen to succeed Ben Bernanke as Chair of the Board of Governors of the Federal Reserve. Dr. Yellen has served in leadership positions at the Fed for more than a decade, including the last three years as Vice Chair. She also served previously as the Chair of the Council of Economic Advisers, and was a leading researcher in monetary economics at Harvard and Berkely.
In government, Dr. Yellen has been known for her sound judgment and ability to build consensus. As an academic, she made critical contributions to understanding how monetary policy can make a difference for jobs, growth and the lives of ordinary people. 505 economists from more than 211 colleges and universities—including some of the country’s leading monetary economists—have signed a letter endorsing her for Fed Chair.
If confirmed by the Senate, Dr. Yellen would be the first woman to hold the position of Chair of the Board of Governors of the Federal Reserve.