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Janet Yellen Is Obama's Choice to be Federal Reserve Chair

Janet Yellen, vice chair of the Board of Governors of the U.S. Federal Reserve System, is shown prior to addressing the University of California Berkeley Haas School of Business in Berkeley, California (REUTERS/Robert Galbraith).

Janet Yellen has been nominated by President Obama to be the new Federal Reserve Chair, to succeed Ben Bernanke in 2014.

Justin Wolfers describes Janet Yellen as "someone for whom economics is a calling. ... Janet really understands the economy as the everyday lives you and I live." Watch below:


 

Donald Kohn says "this is an outstanding nomination by the President. ... [she] is a terrific macroeconomist." Watch below:

 

Justin Wolfers says "Yellen is quite simply more qualified for the job than any of her predecessors."

Ernesto Talvi says her "appointment is very good news for the markets and the economy." Watch below:

 

Subir Gokarn cautions that we should wait until the U.S. gets past the government shut down and debt ceiling issues before thinking about what Yellen might do as Fed chair.

Yellen is a co-author or discussant of a number of Brookings Papers on Economic Activity, and other research at Brookings including: 

Job Switching and Job Satisfaction in the U.S. Labor Market (BPEA, Fall 1998)
• East Germany in from the Cold: The Economic Aftermath of Currency Union (BPEA, Spring 1991)
• New Mothers, Not Married: Technology shock, the demise of shotgun marriage, and the increase in out-of-wedlock births (article, Fall 1996)
• An Analysis of Out-Of-Wedlock Births in the United States (policy brief, August 1996)
Gang Behavior, Law Enforcement, and Community Values (pdf) (book chapter, 1993)

Social media commentary from Brookings experts includes:

 

 

N.b.: Darrell West was a professor at Brown University