Summary: It has been confirmed that President Obama will officially nominate Janet L. Yellen as the next chairwoman of the Federal Reserve on Wednesday. She has been serving as the Fed's vice-chairman since 2010 and as the chairwoman she would serve for four years. Originally Obama was going to choose Lawrence H. Summers, a former aide of his, but Summers dropped out of the running in mid-September. There has been some controversy surrounding her nomination since some say her views don't benefit the American people and also that she slightly campaigned to be nominated as opposed to Obama's first choice of Summers.
Analysis: I don't really know a lot about the Fed, but being nominated as the chairwoman seems like a very high honor and an important job. Yellen sounds like a good and well-qualified condidate and I hope that opposing parties don't get too upset over her nomination. I hope everything goes well.
http://www.nytimes.com/2013/10/09/business/obama-to-nominate-janet-l-yellen-as-fed-chairwoman.html?hp&_r=0
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