Out of Summers’ shadow in Fed nomination, Janet Yellen emerges as more independent candidate

hurley11-150x150Associated Press
Cornelius Hurley, School of Law, Center for Finance, Law & Policy

Janet Yellen is now the clear front-runner to be nominated as chair of the powerful Federal Reserve and her status as President Barack Obama’s second choice, while awkward, could ultimately serve as an asset during confirmation and in the central bank’s top job…

Expert quote:

“Strangely, this could empower her at the end of the day. All of her colleagues on the board and the Federal Open Market Committee will realize she is not a tool of this administration. If anything, she’s more independent as a result.”

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