Janet Yellen, the top candidate to succeed Ben S. Bernanke as chairman of the Federal Reserve, has won praise from labor leaders, and with good reason: she has put the battle against unemployment (USURTOT) front and center at the Fed.
Last month, AFL-CIO President Richard Trumka said Yellen, the Fed vice chairman, would be a “better choice” than former Treasury Secretary Larry Summers, who dropped out of contention this week.
Yellen fought for more than a decade to put combating joblessness on equal ground with controlling inflation at the core of Fed policy. Now, her confidence in government’s ability to smooth over the ruts of market economies has become the prevailing view at the Fed under Bernanke, the most activist U.S. central bank chief in its 100-year history.
This article is for general information purposes only. It is not investment advice or a solution to buy or sell securities. Opinions are the authors; not necessarily that of OANDA Corporation or any of its affiliates, subsidiaries, officers or directors. Leveraged trading is high risk and not suitable for all. You could lose all of your deposited funds.