The National  Memo Logo

Smart. Sharp. Funny. Fearless.

Monday, December 09, 2019

Obama Nominates Janet Yellen To Lead Federal Reserve

@AFP

Washington (AFP) – President Barack Obama on Wednesday nominated respected economist Janet Yellen to lead the Federal Reserve, replacing outgoing Chairman Ben Bernanke, who carried the central bank through the financial crisis.

Yellen, 67, will be the first woman ever to lead the Fed, and is widely expected to sustain Bernanke’s focus on supporting the U.S. economy until joblessness can be brought down.

“America’s workers and families will have a champion in Janet,” Obama said in a White House ceremony, flanked by Yellen and Bernanke.

He called Yellen “exceptionally qualified” for what he said was one of the most important jobs in the world.

“She is a proven leader, and she’s tough. Not just because she is from Brooklyn,” Obama said.

He cited her record of having “sounded the alarm early” about the housing and financial bubble that led to the 2008-2009 recession.

“She calls it like she sees it,” Obama said.

Advertising

Start your day with National Memo Newsletter

Know first.

The opinions that matter. Delivered to your inbox every morning

Youtube Screenshot

In late 2011, John Oliver and his Daily Show cameraman made a trek to my office, then in Providence, Rhode Island, to take me to task. I had recently referred to the Tea Partiers who had pushed America to the brink of a disastrous default as "economic terrorists."

Oliver had apparently swallowed whole a series of barbs directed my way by a Wall Street Journal blogger who didn't seem to like women much. The blogger kept calling me the "Civility diva" and a "Baroness Catherine Ashton lookalike." (A member of the British parliament, Ashton was said to be homely.) He was quite the wit.

Keep reading...Show less

Donald Trump and Mike Pence

Youtube Screenshot

Several mainstream media outlets are manufacturing a political narrative that the discovery of classified documents at the homes of both President Joe Biden and former Vice President Mike Pence should alleviate pressure on disgraced former President Donald Trump, who not only took a vast trove of federal records but also refused to give them back.

Biden and Pence have both cooperated with federal investigators to recover and return documents that belong to the government, and both situations have rekindled scrutiny at the overall system of federal document classification and retention, which appears to be in serious need of reform. Their two examples stand in stark contrast to Trump’s behavior, and possible misconduct, regarding his own handling of government records.

Keep reading...Show less
{{ post.roar_specific_data.api_data.analytics }}