Janet Yellen appointed by Federal reserve as new head and Obama gives her the thumbs up.
Barak Obama has just announced that Ben Bernake is stepping down as head of the FED and will be succeeded by Janet Yellen. Obama said that Janet Yellen has an “Understanding of the Feds dual mandate of increasing employment , creating jobs and a sound monetary policy” The President went on to explain that Janet Yellen “Served in leadership in the fed for more than a decade as vice-chair for the past three years and she has proved exemplary as the driving force for policies that have boosted the recovery. Janet is renowned for her good judgment. She sounded the alarm early about the housing bubble, about excesses in the financial sector and about the risks of a major recession. She doesn’t have a crystal ball but what she does…