29 October 2013 | 75 comments (75 topical, editorial, 0 hidden)

Yellen Poised to Rival Obama With Financial Power - Bloomberg

Janet Yellen, nominated by President Barack Obama to succeed Ben S. Bernanke as chairman of the Federal Reserve, is poised to become the most economically powerful woman in the world.
Yellen, 67, would be the first female head of the 100-year-old Fed and also the first woman to lead any central bank among the Group of Seven economies, which include the U.K., Germany and Japan. Her appointment, if confirmed by the Senate, would put a woman at the pinnacle of the economics field, helping change a history of male-dominated culture among policy makers across the globe.
"Given the shortage of women in important positions within our profession, she has not only broken the glass ceiling, she has completely smashed it to pieces," said Mark Gertler, a New York University economist who has coauthored research with Bernanke and praised Yellen's qualifications. "Just about everyone with any connection to the world of monetary policy is vigorously applauding Janet Yellen's nomination."

by afew (afew(a in a circle)eurotrib_dot_com) on Mon Oct 28th, 2013 at 04:25:00 PM EST
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U.S. Stocks Rise, S&P 500 Heads for Decade-Best Year Gain - Bloomberg

U.S. stocks rose, leaving the Standard & Poor's 500 Index poised for the best annual gain since 2003, as weaker-than-forecast economic data fueled bets the Federal Reserve will maintain stimulus at its meeting.

by afew (afew(a in a circle)eurotrib_dot_com) on Mon Oct 28th, 2013 at 04:25:30 PM EST
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U.S. factory, housing data suggest economy losing steam | Reuters

(Reuters) - U.S. manufacturing output barely rose in September and contracts to buy previously owned homes recorded their largest drop in nearly 3-1/2 years, the latest signs the economy's momentum ebbed as the third quarter ended.
The reports on Monday showed economic activity was on weak footing even before a 16-day partial shutdown of the U.S. federal government early in October that is expected to weigh on fourth quarter growth.
"The economy seems to be losing steam as higher mortgage rates have hit the housing market and destructive government policy will likely bash the rest of the economy," said Joel Naroff, chief economist at Naroff Economic Advisers in Holland, Pennsylvania.

by afew (afew(a in a circle)eurotrib_dot_com) on Mon Oct 28th, 2013 at 04:31:29 PM EST
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I thought that Rand Paul was blocking her appointment.

keep to the Fen Causeway

by Helen (lareinagal at yahoo dot co dot uk) on Tue Oct 29th, 2013 at 07:44:42 AM EST
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It is highly unlikely he will be able to assemble a blocking minority when Reid brings the nomination up for a vote. Nor is Reid likely to respect his 'hold'.

"It is not necessary to have hope in order to persevere."

by ARGeezer (ARGeezer a in a circle eurotrib daught com) on Tue Oct 29th, 2013 at 12:31:50 PM EST
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29 October 2013 | 75 comments (75 topical, 0 editorial, 0 hidden)