The economic situation in the United States is unstable to say the least at this time with soaring poverty among more Americans than ever right alongside the evolution of a new generation of billionaires derived from the internet craze. And so everyone has been waiting to see who the new chairman of the Federal Reserve is going to be and which direction this might take the country now. Janet Yellen has been confirmed as the first woman Federal Reserve chair, reported Forbes on Jan. 6, 2014.
67 year old Yellen was confirmed by the Senate as the new chairperson of the Federal Reserve on Monday afternoon. She is the first woman to head the U.S. Central bank in its 100 year history. Yellen made a comment which has given hope for many financially hurting Americans during the White House nomination, saying, “Too many Americans still can’t find a job and worry how they’ll pay their bills and provide for their families. The Federal Reserve can help if it does its job effectively.”
Yellen will now be in charge of working for a full recovery for the economy of the United States, reports The Washington Post on Jan. 6. 2014. She will take over as head of the Federal Reserve on Feb. 1. Sen. Tim Johnson (D-S.D.) said on Monday about Yellen, “She has proven through her extensive and impressive record in public service and academia that she is most qualified to be the next chair.”
This is an historic new start for the economy in the United States. As the first woman to head the federal reserve let's hope Yellen really is in touch with the fact that there are more well educated women, men and children struggling to survive in poverty in the United States than at anytime in American history since the Great Depression.
Let's also hope that along with her clearly keen intellectual capacity to deal with the financial challenges the country is being confronted with, she also has within her some type of motherly instinct for her fellow countrymen which drives her to give all she possibly can to pull the United States out of the financial mess it is presently in. Not just the future of Wall Street, but also people's lives really are on the line now.