Via Reuters:
US President Barack Obama plans to nominate San Francisco Federal Reserve Bank President Janet Yellen to be vice chairman of the central bank, a source familiar with the process said on Thursday.
Yellen, considered one of the more dovish Fed policymakers, would replace Donald Kohn, who announced earlier this month that he would retire in late June. The nomination would be subject to Senate approval.
Certainly, Ms Yellen is a choice that would make sense. She’s a dove’s dove, and Mr Obama would be hard pressed to appoint anyone with hawkish credentials to replace Mr Kohn, another dove, while unemployment still flirts with the 10 per cent level.
