Obama To Name Yellen As Fed Vice Chair

RedTracker| President Obama plans to nominate Janet Yellen, president of the Federal Reserve Bank of San Francisco since 2004, as vice chairman of the Federal Reserve Board, according to sources. The story is confirmed by many news agencies. Ms. Yellen is a strong supporter of Fed Chairman Ben Bernanke’s policies and is called a ‘policy dove’, meaning that she leans toward policies that will boost growth and promote employment, rather than those focused on keeping inflation low. via News Daily and WSJ.