Will Yellen Continue Bernanke's Policies?

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Oct. 8 (Bloomberg) -- President Barack Obama will nominate Federal Reserve Vice Chairman Janet Yellen tomorrow to head the U.S. central bank, a White House official said in an e-mailed statement. Yang Yang has more on Bloomberg Television's "Bloomberg West." (Source: Bloomberg)

Hearing is what you just said, the obama administration is getting ready to nominate janet yellen, the current vice chair of the fed, to fill in that spot that bernanke indicated he would be vacating.

This closes up a very long process that started back in june when obama first mentioned that bernanke would not be staying through his term in january of 2014. janet yellen is certainly the more favored candidate that we have seen.

You are member that she and larry summers, a former treasury secretary, were both top contenders.

Democrats were not behind larry summers, so he basically had to back out.

Now we have janet yellen, and many senators have spoken out in favor of her, especially in the banking committee.

This nomination does come at a particular tumultuous time in washington.

As we have been discussing in this show, we have the current shutdown showdown, issues with the debt ceiling.

It is going to be tough p to get herassed -- to get her passed through the senate.

The fact that the white house is considering nominating her as soon as tomorrow could be a signal that perhaps the white house is looking to provide a little more stability, a little more certainty in a time that is very uncertain, given the shutdown and that impending debt ceiling deadline.



Yang, if in fact she does get this post, are we expecting her to continue bernanke's policies?

From a policy perspective, if she is already vice chairman, would it be a thing?

-- more of the same?

That seems to be in what we are hearing.

Not only did obama say that whoever would follow bernanke's footsteps would continue to pursue bernanke's quote unquote -- or 90s "smart policies," at the fed, she and bernanke have held the same policy viewpoint.

One thing that we could see more of is more communication.

One thing that they have credited yellen for is that she has helped with a more transparent fed.

She currently leads communications.

We could see that go on with her at the helm.

Yang yang, thanks so much for that update.

We will be watching for janet

This text has been automatically generated. It may not be 100% accurate.


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