NYT on Janet Yellen

File this for future use when price inflation soars and unemployment is on the rise again.

The NYT editorial board writes:

President Obama was wise to nominate Janet Yellen, vice chairwoman of the Federal Reserve, to be the Fed’s next leader. As a deeply respected economist, she will bring two vital attributes to that role as a steward of the economy.

First, she represents continuity with the Fed’s current low-interest-rate policies to foster employment while controlling inflation. Those policies, which she has helped to create and sustain, have undeniably boosted the flagging economy.[...]

The Senate should move quickly to confirm Ms. Yellen. As leader of the world’s most powerful central bank, the Fed chief is also the most important international economic policy maker. Congress’s current fiscal recklessness is roiling international markets. Confirming Ms. Yellen promptly would help to quell that instability.


Her nomination is a bright spot in a week dominated by the threat of a default from failure to raise debt ceiling. The Fed would be in good hands under her leadership.