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The Time for Yellen


US Politics & Gov't  (tags: Frderal Reserve, Filibuster, Maddow, Video )

TomCat
- 294 days ago - politicsplus.org
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Comments

TomCat S. (286)
Thursday October 10, 2013, 2:04 am
The Chair of the Federal Reserve is one of a President’s most important appointments, because unlike agency appointments, the appointment continues into the next administration. For that reason, I strongly suspect that Hillary was behind Obama’s initial preference for one of the infamous three blind mice, Larry “Always Wrong” Summers, because he is one of her advisers. Progressive rejected that, in favor of Janet Yellen. We won this one!
 

Gloria picchetti (287)
Thursday October 10, 2013, 2:38 am
I think she's going to be great assuming there is anything left after Boehner et al.
 

Jennifer C. (172)
Thursday October 10, 2013, 5:24 am
Thanks.
 

Terrie Williams (762)
Thursday October 10, 2013, 7:00 am
Finally.....
 

pam w. (191)
Thursday October 10, 2013, 7:05 am
You taught me something, Tom....THANKS!
 

Arielle S. (316)
Thursday October 10, 2013, 7:21 am
Good to see a "mature woman" taking the bull by the horns. If they give her any guff, I hope she gives them what they deserve....
 

Lona Goudswaard (67)
Thursday October 10, 2013, 8:06 am
Yellen took the full first page of the economy section of our newspaper yesterday and her nomination was mentioned on the national news last night, so that might give you an impression of how important her nomination is to the rest of the world. The financial experts seem to be in favour of her because she's smart, perceptive but also knows how to handle delicate situations. That she is an "inflation dove" doesn't seem to bother any one here much, as she rather have a little inflation against more jobs. Inflation here is very low, unless governments crank it up themselves with higher levies and taxes, and the job market is still very much in a pickle, so at least some Europeans like her attitude. The best thing mentioned about her: you get what you see. I like that very much.
 

tasunka m. (334)
Thursday October 10, 2013, 9:36 am
Obama has been really good about appointing smart women.
Thanks TC
 

Pat A. (117)
Thursday October 10, 2013, 12:12 pm
Please God all goes well – if not I hope Mr Reid follows your advice!
 

JL A. (272)
Thursday October 10, 2013, 12:50 pm
I especially like that she wants to focus more on the unemployment side of the economic needs equation given her reputation as an effective problem-solver.
 

Birgit W. (140)
Thursday October 10, 2013, 12:59 pm
Time will tell. Thanks TC.
 

Yvonne White (231)
Thursday October 10, 2013, 1:02 pm
About time!!!!!:)
 

Dave C. (213)
Thursday October 10, 2013, 1:17 pm
Yelling for Yellen!!!! Yeah!
 

Jane J. (4)
Thursday October 10, 2013, 2:04 pm
What a disaster for the country.
 

Lynn Squance (227)
Thursday October 10, 2013, 2:06 pm
"As speculation swirled about the appointment, much of the debate revolved not around economic policy but gender."

Why do so many things come down to gender? The discussion should be about qualifications and experience, which she has in spades! That is where the discussion should be centred because that is where the decisions will emanate from — knowledge and experience. If people really want to look at gender, then look at the records of Bernanke and Summers. Did they rely on being male to form their policies and advice? No, they relied on knowledge and experience (presumably).

Given the history and the extremism of the Republicanus/Teabaggers, although Yellen is fully qualified and then some, I fully expect that her nomination will face challenges from Republicanus/Teabaggers, if for no other reason than she is Mr Obama's choice. Reid needs to grow a big pair of brass cojones right now and just nuke the filibastards at the outset. Why wait for spring, do it now!

 

Chris C. (147)
Thursday October 10, 2013, 2:11 pm
About damned time!
 

Barbara K. (87)
Thursday October 10, 2013, 3:01 pm
Glad to see that we will have Yellen, I think she will do a great job.
 

Bill and Katie Dresbach (79)
Thursday October 10, 2013, 4:15 pm
We Have been wanting her too!! Good!!
Thank You Tomcat
 

Mitchell D. (129)
Thursday October 10, 2013, 6:01 pm
Lynn S. put it so well!
At the same time , we might need someone who will move us towards a post-capitalistic place, and out of the system that keeps seeding its own cyclical ups and downs, as per "Capitalism Hits the Fan," by Richard Wolff.
 

Jim Phillips (3215)
Thursday October 10, 2013, 6:39 pm
Reported in Democracy Now:

http://www.democracynow.org/2013/10/10/headlines#10109

TEXT:

"President Obama has formally unveiled Janet Yellen as the next chair of the Federal Reserve. Yellen currently serves as the Fed’s vice-chair under current head Ben Bernanke, whose term ends in January. On Wednesday, Obama praised Yellen’s track record while Yellen vowed to assist those hardest hit by the economic recession."

"President Obama: "You know, 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 have is a keen understanding about how markets and the economy work, not just in theory, but also in the real world.""

"Janet Yellen: "I think we all agree, Mr. President, that more needs to be done to strengthen the recovery, particularly for those hardest hit by the Great Recession. We have made progress. The economy is stronger, and the financial system sounder.""

"Yellen will be the first woman to serve as Federal Reserve chair. Although she has been described as a progressive nominee, Yellen previously supported the repeal of the Glass-Steagall Act that separated commercial and investment banking. She also backed the 1993 North American Free Trade Agreement, which critics say has undermined worker and environmental rights."

Ty, Tom.
.
 

Jim Phillips (3215)
Thursday October 10, 2013, 6:48 pm
Video link to Amy Goodman's Democracy Now regarding the appointment of
Janet Yellen starts at 7:45.

Video link: http://www.democracynow.org/2013/10/10/headlines#10109

.
 

Sheila D. (24)
Thursday October 10, 2013, 7:09 pm
Thanks for the post, TomCat. Also enjoyed the "cartoon".
 

Edith B. (142)
Thursday October 10, 2013, 9:44 pm
So glad she was appointed, Ihope the Republicans don't try to block the appointment just because the Prez appointed her.
 

TomCat S. (286)
Friday October 11, 2013, 1:37 am
Thanks everyone.

I find it most interesting that, in the Netherlands, Lona got better coverage of her appointment that we did here.
 

Karen Chestney (103)
Friday October 11, 2013, 3:31 am
Thanks for this article. YES----Janet Yellen will be A Great Head of the Fed. She is beyond competent---sooo well qualified -----Her appointment is good news.
 

Robert K. (31)
Friday October 11, 2013, 2:43 pm
About time Obama listened and threw the Wall Street bandits away and appointed one who cares about America instead of their conspirators.
 

TomCat S. (286)
Saturday October 12, 2013, 2:14 am
Amen to you both!
 

James Maynard (66)
Saturday October 12, 2013, 3:26 pm
An excellent choice.
 

Alice C. (1797)
Saturday October 12, 2013, 4:04 pm
Thanks Tom
 
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