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Janet Yellen

Janet Yellen

President Obama will nominate Janet Yellen to serve as Federal Reserve chief, according to a White House official.

Obama is scheduled to hold a White House event at 3 p.m. ET on Wednesday to make the announcement.

If confirmed, Yellen would succeed Ben Bernanke when his term ends in January. Currently the Fed vice chair, Yellen would be the first woman to hold the top job. Ref. CNN.

Yellen Janet

Janet Yellen was confirmed by the U.S. Senate as Federal Reserve chairwoman, becoming the first woman to hold one of the most powerful jobs in global economics.

The 67-year-old Yellen, who has served as vice chairwoman of the central bank since 2010, will succeed Ben Bernanke, whose second term as chairman ends January 31. Ref. CNN

Janet Yellen History & Civil Business Politics

Federal Reserve Chair Janet Yellen indicated Friday that if the economy stays on track for the next few weeks, a rate hike would likely come when Fed leaders meet March 14-15.

"At our meeting later this month, the committee will evaluate whether employment and inflation are continuing to evolve in line with our expectations, in which case a further adjustment of the federal funds rate would likely be appropriate," Yellen said in a speech in Chicago.

The Fed last raised rates in December -- only its second rate hike in about a decade. A rate increase would be another sign that the US economy is closer to full health after a very slow recovery from the Great Recession.

Rising rates affect millions of Americans, from home buyers to savers. They also have a major impact on the global economy and financial markets. Ref. CNN.

Yellen Janet

I'm not sure now is the right to raise rates. Give the economy a few quarters to gain some steam and then slow it down rather than slowing it down before it gets any forward motion (I.e. Growth) built up.

Yellen Janet

Senate confirms Janet Yellen as US Treasury secretary, the first woman to head the department. Yellen, the first woman to lead the Federal Reserve during her tenure from 2014 to 2018, was confirmed by the Senate on Monday afternoon. She has become the first person to head the Treasury, Federal Reserve and the White House Council of Economic Advisers. Ref. USAToday.