News

Obama says Yellen is his choice to take over Fed

Obama says Yellen is his choice to take over Fed

FEDERAL RESERVE: If confirmed, Janet Yellen would be the first woman to lead the Federal Reserve. Photo: Associated Press

WASHINGTON (AP) — President Barack Obama says that in Janet Yellen he’s found a tough and proven leader to take over as chairman of the Federal Reserve.

Yellen currently is No. 2 at the nation’s powerful central bank.

She would succeed outgoing Fed Chairman Ben Bernanke at a pivotal time for the economy and the bank’s monetary policies.

If confirmed by the Senate, the 67-year-old Yellen would be the first woman to head any country’s major central bank.

She emerged as the favorite for the post after former treasury secretary and White House favorite Lawrence Summers withdrew from consideration in the face of mounting opposition to him being Obama’s choice.

Bernanke will serve until his terms ends Jan. 31.

What's On 'KLH?

Hire Me MKE

HireMeMKE_620x400

Looking for a job around the Milwaukee area? Check out some openings>>

Wanna Play DJ?

HEYMOM

You can host your own show Sunday night at 6 on ‘KLH!

Recent Headlines

in Music

Documentary on Nirvana’s Kurt Cobain to air on HBO

cobain

The first documentary made with the cooperation of Kurt Cobain's family will be released next year.

in National, World

U.S. to leave more troops in Afghanistan than first planned

afghanistan

The number of troops in Afghanistan next year will be larger than originally thought to fill a gap left in the NATO mission.

in Black Friday, Entertainment

PHOTOS: Macy’s Parade through the years

AP970543650046_2

For 88 years the iconic Macy's Parade has been a Thanksgiving tradition.