Tag Archives: Ben Bernanke

Current Event Cat of the Day: Janet Yellen

Janet Yellen

Amidst the chaos of the government shutdown and the looming debt-ceiling deadline, Obama announced Janet Yellen as his pick to head the Federal Reserve.

Did Janet Yellen get nominated because Obama hopes she’ll be yellen at Republicans to stop holding the country hostage? No. Instead, Janet Yellen was chosen to replace Ben Bernanke as the head the US Central Bank because of her skills and experience. Yellen has been Bernanke’s deputy for the last two years so the transition should be fairly seamless.

The chairman of the US Senate Banking Committee, Tim Johnson, said she had “a depth of experience that is second to none.”

“I have no doubt she will be an excellent Federal Reserve chairman,” he added.

Say what you will about Ben Bernanke, but the man knows when to aboandon ship. Janet Yellen will be walking into a disaster if the US government doesn’t get their debt ceiling issues worked out.

Once the Senate approves her (they only need six Republican votes so it shouldn’t be too much of a hassle) she will become the first woman to lead the Federal Reserve. And the first Democrat to lead the Fed since Paul A. Volcker stepped down in 1987!

Funny how the first black president and the first female Fed chair (both Democrats) will be left to deal with a potentially huge financial catastrophe almost entirely concocted by Republicans who are unwilling to share any of the blame. Maybe those Republicans aren’t so dumb after all…. maybe it was a set up all along…

Via: The Washington Post & Current Event Cats

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