Janet Yellen will be announced tomorrow as the nominee by President Obama to be the next Chair of the Federal Reserve. In a banking nightmare, amid a desperate debt ceiling debate, she will climb into the highest seat in the grey suit wearing glass ceilinged world of economics. She is currently the Vice-Chair of the Board of Governors of the Federal Reserve System. She was the President and CEO of the Federal Reserve System of San Francisco and is President Emeritus of the University of California Berkley School of Business. But she also is a woman who found the love of her life in 1977 while working with him. Her husband happens to be a Nobel Prize winner in Economics, George Akerlof. Many credit her as being the more grounded and sensible of the pair. I applaud Obama for nominating her and I hope she is confirmed by the Senate swiftly. Let us proceed with confidence amid much despair.
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