Janet Yellen will lead the powerful U.S central bank and decide the world's fortune
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Janet Yellen
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Washington :US President Barack Obama nominated Janet Yellen as the new Chairman of the powerful U.S central bank.Janet Yellen (67) will be the first woman to chair the Federal Reserve Bank in its 100 year history.She is going to hold the most powerful position in the global financial system. Her step will affect economic and financial market globally.She is currently vice-chairman of US Federal Reserve. She was associated with US Federal Reserve as an economist and member of its board of governors She was also the president of San Francisco Federal Bank. She was also associated with president Bill Clinton.Council of Economic advisors. She holds strong educational background with doctorate in economics from Yale University. She also got involved in teaching profession at UC Berkeley, London School of Economics and Harvard University.Janet Yellen is married to Nobel Prize winning economist George Akerlof. US President Obama called her "one of the nation's foremost economists and policy makers" who is "renowned for good judgment." Shewill succeed the Fed chairman, Ben S Bernanke, who's tenure will end on 31st January 2014 . He served U.S central bank for eight year time period.He raised US economy out of the worst financial crisis and recession in 2008.Janet Yellen main aim would be to carry Fed policy in the same way as Mr Bernanke. She will follow to keep interest rates low to support the economy.
(With inputs from agencies).#http://bit.ly/1a2s1Z6
