President Barack Obama has announced that he plans to nominate Janet Yellen as the next chairman of the Federal Reserve Board. In a Bloomberg View column, Justin Wolfers explains why he is enthusiastic by the historic selection.
In the article, Wolfers describes Yellen as an "imaginative and technically adept economist possessed of a brilliant and precise mind" who is "quite simply more qualified for the job than any of her predecessors." He notes that she has been a leading voice within the Fed for the past two decades and is a tough and natural leader with a clear economic policy vision. Wolfers also applauds the historic nature of her appointment in the male-dominated field of economics since, if confirmed, Yellen will be the first woman to serve as Federal Reserve Chairman.