Janet Yellen as Federal Reserve Chair Is a Good Start…
by William Greider, The Nation http://www.thenation.com/article/176575/janet-yellen-federal-reserve-chair-good-start
"Let’s be blunt. Barack Obama is still in denial about the sorry state of the economy, and so are both parties in the stalemated Congress. The government is consumed by wrong arguments about the wrong crisis, while the Federal Reserve keeps pointing out discreetly that the economy is still sick. Prosperity is not just around the corner."
"Obama has a way to break out of this mess. Instead of wrangling with know-nothing Republicans over how to cut spending and make things worse, the president should make his “grand bargain” with the Federal Reserve. Together, they can develop an aggressive agenda to stimulate job creation and create the new demand the stagnant economy needs."
"As it happens, in the next few months, Obama will name up to five of the seven governors of the Federal Reserve Board. His choice to succeed Bernanke as chair is Janet Yellen, currently vice chair and a strong Bernanke ally. Yellen is a real pro—not a bomb thrower and moderately liberal, with the emphasis on “moderate.” If the Senate confirms Yellen, she would be the first woman to run the Fed in its 100-year history."
The article goes on to list and provide justification for possible candidates for the five upcoming openings on the Federal Reserve Board.
Please support progressive publications like The Nation.
= new reply since forum marked as read
