Fed Nominations

April 29, 2010

A month and a half ago, the White House announced the names of three people the President would be nominating to fill the vacancies at the Federal Reserve Board of Governors. And finally today those same three people were actually nominated.

My first thought is: By the time the sun starts burning out, we will totally have this nut cracked! And my second thought is: I hope these three nominees are committed to raising the employment level.

Well, Janet Yellen, president of the San Francisco Fed and the nominee for vice chair of the Board of Governors, made some promising noises right out of the box today:

I am strongly committed to pursuing the dual goals that Congress has assigned us: maximum employment and price stability and, if confirmed, I will work to ensure that policy promotes job creation and keeps inflation in check.

Sounds good, maybe, I think. You know, in that deeply ambiguous monetary policy kind of way. Via Matt Yglesias.

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