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Yellen Confirmed by Senate; Set to Become Federal Reserve Chair

Posted on January 9, 2014

The U.S. Senate confirmed Janet Yellen, a professor emerita at UC Berkeley’s Haas School of Business, as the first female head of the Federal Reserve on Monday.

Yellen, current vice chair of the Fed’s Board of Governors, will replace Ben Bernanke when she takes office on Feb. 1. She was nominated to the position by President Barack Obama in October.

Yellen taught macroeconomics and international business to undergraduates and MBA students at Haas for 24 years beginning in 1980, becoming the second woman to earn tenure at the Haas School in 1982. She received the school’s Earl F. Cheit Award for Excellence in Teaching, a student-nominated award, in 1985 and 1988.

“Janet was always a phenomenal teacher — partly because she worked very, very hard at it,” said Haas professor David Levine, whom Yellen mentored, in an August interview with The Daily Californian. “She thought about literally every word she would say. As she has moved up in government, this level of thoughtfulness and reflection has always been increasingly important — and as a high official of the Federal Reserve system, where literally, the placement of a comma can move the markets.”

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15 thoughts on “Yellen Confirmed by Senate; Set to Become Federal Reserve Chair

  1. "the Federal Reserve system, where literally, the placement of a comma can move the markets" – especially when you're talking about the size of the bond-buying program.

  2. Nice sounding story… What does everyone teach at UC Berkley??? One statement bothers me … more of the same counterfeiting of currency… to stimulate "consumption" in an economy that has been methodically stripped of "productive" infrastructure and over time (now, as in now) its "ability to produce"!

  3. CaptTurbo says:

    I don't think many of us are surprised at being betrayed by the Senate once again.

  4. An after this sorta move and its approval the Republican party still wants our support? No way thank you. I would rather vote like I did last election, for Mickey Mouse, it did the same amount of good.

  5. BMW

    I believe that when I was a kid growing up that the treasure department printed our money and we were on the gold system. Now that we have had a bunch of trators for

    Presidents that we have been taken off of the gold system so that the insiders

    would be able to cause this nation to fall. Then they could make us ONE WORLD ORDER.

    I think that our Goverment ,”stinks” for what they are doing to the American republic.They are a bunch of trators and should be put into prison.

    I believe it is time to clean house in Washington.Leave only those that believe

    in the Constitution and believe in God. Which sadly won’t happen. So America,

    first wake up Americans,And fight to bring this nation back under the Constitution.

    And turn back to our triune God.

  6. Communist takeover of the FED is now complete. Thank you Harry.

  7. Then Join the call for MILLIONS to be in Washington on May 16, to demand he resign. it's been done before and can be done again. but only if we all put on our big boy/girl panties and DO IT OURSELVES. There are some of the TOP general that Ovomit has , more or less, 'cashiered' out of the service who will be there to lead the turnout. Coincidentally, these SAME generals ALL had something to do with the security of our nuclear missile program. Does THAT surprise anyone?
    So MAKE YOUR PLANS, SEND THIS TO YOUR FRIENDS NEIGHBORS RELATIVES ( any that are NOT brain dead liberals ) and let's go TAKE BACK OUR COUNTRY !!!

  8. after obama caught wind to this demonstaion, last week he signed an exeutive order that nullifys the 1st amendment. he did this so the police , or the military can go in and due what they do best,. kill people. I think every one should have a rifle , or shotgun slinged over there sholder's. For some reason , i feel this could be the start of a bloody revolution. OBAMA WOULD NOT HESITATE TO GIVE THE ORDER TO START SHOOTING PEOPLE WITH BEAN BAG AND HAVE FEMA, OR THE UN COME IN AND THAT'S ALL IT WILL TAKE. WE HAVE THE MILITARY AT OUR BACKS, WITH THESE TOP BRASS LEADING US. IT'S MENT TO BE A PEACEFULL MARCH, BUT THE POLICE DON'T WANT PEACE. THEY WANT A WAR. OBAMA IS THE ANTI CHRIST, I'M MEAN FOR REAL. PLUS OUR FOREFATHERS, WOULD NEVER ALLOW A MALATO, UN AMERICAN BORN PREIDENT.

  9. New School Posse says:

    So this woman is handed the levers of power because she was a professor at Berkeley? Give me a break. She has already been a party to numerous economic crimes against the people of the United States! Currency debasement, secretly lending trillions to European banks in violation of the law, and the list goes on and on. Just a dangerous as Obama, probably more so.

  10. New School Posse says:

    I love it how this woman is such a smarty pants when Keynesian economics is such a fraud and has ruined the economy over and over again. How could someone so smart be such a complete idiot? No, the real truth is that these people want to destroy the people and enrich the banksters.

  11. I can't comment on how smart she is, but neither she nor her boss, is very good at recognizing the reality of Keynes' effects.

  12. Typical example as why the Federal Reserve is not needed as it stands today.It is supposed to be a non political entity having the responsibility of keeping the USA finances strong,well it is not the case Mr.Bernake is nothing but a political puppet and who knows how much him and cohorts stole and benefited from insider information, as far as Ms Yellen is concerned, what has she done? well just nothing she is a teacher and we all know that if you can you do but if you can not you teach

  13. The Federal Reserve is the ultimate insider trading scam. When the third private central banking scheme was sold to this country 100 years ago, its proponents said the FRS would stabilize the currency, end recessions, depressions, panics and war. Since 1913 all we have known is recessions, depressions, panics and war.

  14. She is an excellent college level teacher, and now she is being promoted to a job like head of the Federal Reserve? That entity needs to be nullified as it does not help America any and more than likely, has greatly damaged out country with all the fake money Bernakke printed??. Just one more example of a badly management government that is way to big and totally incompetent.

  15. I like the way someone put it. Having a women running the fed and a negro running the country shows this country is going to pot!