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?

9th Annual STICKY FINGERS

StickyFingers2014_KLH_int_wp

Sample and judge the best BBQ, Chili, Wings, Dessert and Cheesy creations at the Waukesha Expo on Sunday, Oct 5th!

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 Entertainment

Jennifer Lawrence threatens action over nude photos

jlaw

Lawrence's representative has threatened to prosecute those behind a nude photo leak affecting dozens of A-list celebrities.

in Entertainment

Family of seriously ill Joan Rivers ‘keeping fingers crossed’

joan-melissa

Joan Rivers remains in serious condition after suffering cardiac arrest.

in Entertainment

Today’s celebrity birthdays

tomlin

These celebrities will celebrate their birthdays on Labor Day.