It has been expected, but congratulations to Janet Yellen, who was nominated today by President Obama to follow Ben Bernanke as Chair of the Federal Reserve System Board of Governors. As the Fed Chair, she takes the position as what one of my economics professors (and several news stories) called the “Most Powerful [Wo]man on Earth.” With congressional deadlock and the threat of default on the horizon causing fears about the safety of Treasury Bills, etc, I wonder how “most powerful” the job really looks these days.
News sources have been pouring out profiles and lists of facts about Yellen all day (e.g. here, here, and here). Tyler Cowen at Marginal Revolution, who I follow in RSS and read regularly, has written some about Yellen.