News

Obama says Yellen is his choice to take over Fed

Obama says Yellen is his choice to take over Fed

FEDERAL RESERVE: If confirmed, Janet Yellen would be the first woman to lead the Federal Reserve. Photo: Associated Press

WASHINGTON (AP) — President Barack Obama says that in Janet Yellen he’s found a tough and proven leader to take over as chairman of the Federal Reserve.

Yellen currently is No. 2 at the nation’s powerful central bank.

She would succeed outgoing Fed Chairman Ben Bernanke at a pivotal time for the economy and the bank’s monetary policies.

If confirmed by the Senate, the 67-year-old Yellen would be the first woman to head any country’s major central bank.

She emerged as the favorite for the post after former treasury secretary and White House favorite Lawrence Summers withdrew from consideration in the face of mounting opposition to him being Obama’s choice.

Bernanke will serve until his terms ends Jan. 31.

Recent Headlines

in Local

F Grade On Cutting Tobacco Use

cigarette

A new report card on Iowa's efforts to cut the use of tobacco products gives the state one A and three Fs.

in Local

Iowa School Aid Levels Debated

College Money Student

Republicans and school groups are staking out widely different positions over how much state aid should be forwarded to Iowa's public school districts.

in Local

Changes Sought In Drivers License Law

nebraska-state-capital

A Nebraska state senator hopes there's a change at the top, but if not, he plans to push ahead for a change in state policy that would allow youth brought to Nebraska illegally when young to obtain driver's licenses.

in Local

Children’s Groups Merge

children

Here 4 Youth is an organization in Sioux Falls that offers after school services to children with special needs and their siblings.

in Local

Record Numbers For South Dakota State Parks

Camping

South Dakota’s state parks saw a record number of campers last year.