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September 22, 2013


The Nomination is the Easy Part for Yellen

President Obama "will likely nominate Janet Yellen soon as the next chairman of the Federal Reserve. Yellen, the current vice chairman of the central bank, should enjoy uniform Democratic support and will almost certainly pick up enough Republican votes to win confirmation," Politico reports.

"Then her real problems will begin."

"Yellen, should she get the job, would take over at a uniquely difficult time for the nation's central bank. Since the financial crisis, the Fed has been among the few constant sources of economic stewardship in Washington, pumping money into the struggling economy as Congress and the White House lurched from near-default to the first credit downgrade in the nation's history to a series of high-stakes spending battles."












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