Federal Reserve chairman

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Janet Yellen: US Economy Still Needs Fed's Help

Fed nominee is testifying before Senate Banking Committee

(Newser) - Janet Yellen said today that the US economy has regained ground lost to the Great Recession but still needs the Federal Reserve's support because unemployment remains too high at 7.3%. Yellen is testifying this morning to the Senate Banking Committee, which is considering her nomination to be the... More »

Finally: A Woman to Lead the Fed

Janet Yellen 'a role model': John Cassidy

(Newser) - Janet Yellen will be the first female head of the Federal Reserve—indeed, "the first woman to head a central bank in any big Western nation" if you don't count Russia, writes John Cassidy in the New Yorker . And that certainly matters, as it may not surprise you... More »

Summers Pulls Out of Fed Race

Larry Summers pulls name out of consideration for Fed Chairman

(Newser) - Larry Summers has withdrawn his name from the contest to replace Ben Bernanke as chairman of the Federal Reserve, reports the Wall Street Journal . "I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the... More »

Larry Summers Next Fed Chief? Not If His Critics Can Help It

It's mostly a race between him and Fed vice chairwoman Janet Yellen

(Newser) - Larry Summers or Janet Yellen. If you're a weird hybrid of wonk and gambler, you already know those two are the heavy favorites to replace Ben Bernanke as Fed chief in January. Expect to hear much more as decision time nears for President Obama, especially because an influential hodgepodge... More »

Fed Panel Split Over Bernanke's Low Rates Policy

It's the most a chairman has faced in 19 years

(Newser) - Ben Bernanke's Tuesday announcement that the Fed is prepared to keep short-term interest rates close to zero for at least two more years is facing internal revolt from the Federal Open Market Committee, the 12-member committee of Fed presidents and governors that sets monetary policy, reports the Wall Street ... More »

Shut Up, Alan Greenspan

Ex-Fed chairman can't get anything right

(Newser) - Former fed chairman Alan Greenspan warned this weekend that the US is headed for a double-dip recession, which might be frightening news, if we didn’t have a conflicting opinion—from former Fed chairman Alan Greenspan! Just 4 months ago, Greenspan said odds of a double-dip recession had fallen drastically.... More »

Larry Summers Will Be Gone by Year's End

Adviser irked that Geithner, not he, has Obama's ear

(Newser) - Economics guru Larry Summers will be out the Obama administration by November’s election, or shortly thereafter, Joshua Green contends —mainly out of frustration that Treasury Secretary Timothy Geithner, and not he, has become President Obama’s go-to adviser in that area. Blogging for the Atlantic, Green notes that,... More »

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