NOW enthusiastically congratulates Janet Yellen on her nomination to be the next chair of the Federal Reserve, and we salute President Obama for making history today. Dr. Yellen’s nomination is another crack in a glass ceiling that needs to be shattered.
In the middle of a government shutdown brought about by bitter extremism, it’s important to remember that Janet Yellen won Senate confirmation to her original term on the Federal Reserve in a 94-6 vote, and sailed through her confirmation as Fed Vice Chair on a voice vote. Dr. Yellen’s nomination is an opportunity for Republicans to show they really can work with Democrats — they should take it.
President Obama’s nomination of Janet Yellen is great news for women, working families, the elderly and everyone struggling in today’s economy. Under her leadership, the Federal Reserve will acknowledge that bringing down unemployment is no less important than keeping inflation in check.
With Dr. Yellen’s nomination, we won’t be arguing over whether a woman is up to the job of Fed chair again.