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09/24/2013

Comments

pj cline

I think it's important to keep stable leadership in the Fed especially when the economy is so fragile. Ben Bernanke has steadily guided the country out of the worst of the recession, therefore Janet Yellen is the perfect replacement since she has been able to observe Bernanke's actions over the course of the term.

The author believes that Janet will not have any political allegiances while she is chair of the Reserve. That idea seems very naive because we almost always align ourselves with those who got us into office. She may not be as influenced as Larry Summers would be by the GOP, but there will definitely be some influence. Either way the author brings up that she will secure the nomination since the President can pocket veto any other candidate, hence Yellen would assume the chair from succeeding measures.

Lizz Platt

I agree that one of the most important issues is keeping stability in the leadership of the Fed. Monetary policies do not change the economy overnight, but rather they require time and effort. If the chair of the FRB did not remain fairly consistent with their predecessor’s policies, the economy would never exhibit the changes. Yellen, after working under Bernanke, has already observed the meetings and heard the arguments for and against the monetary actions of the Fed. Thus, she has had firsthand involvement and, paired with her record of good judgment, encompasses a great deal of proficiency as a candidate.

In addition to her credentials, Yellen also would become the first female chair of the FRB. Research has shown women participating in government tend to be more qualified than their male counterparts. Women tend to judge themselves harsher than men and are less likely to be nominated due to lack of inter-gender networking. These issues cause fewer numbers of women than men to lead in the government. With Yellen’s historic nomination, she would pave the way for women across the nation to become more involved in economic issues and leadership positions.

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