Elizabeth Warren Has Thrown Her Support Behind Janet Yellen For Fed Chair

elizabeth warren

Massachusetts Senator Elizabeth Warren joined a list of Senate Democrats calling on President Obama to name Janet Yellen as head of the Federal Reserve, the Boston Globe reports.

Warren — who lately has made curbing Wall Street’s power and profitability a chief legislative agenda — signed onto the letter urging Obama to appoint Yellen.

If appointed, she would become the first female Fed chair when Ben Bernanke likely retires at the end of his term in January.

Of course, picking Yellen meant Warren snubbed her former Harvard colleague Larry Summers, also rumoured to be on Obama’s short list.

From The Globe

Warren was a professor at Harvard Law School when Summers resigned as Harvard’s president in 2006 for making comments suggesting that gender differences partly explained why fewer women pursued careers in maths and science.

They later clashed when Warren was heading a congressional oversight panel. In interviews, Warren said that her views differed sharply from those of Summers, as well as then-Treasury Secretary Timothy Geithner. They were too supportive of the big banks, she suggested, while she stuck up for everyday Americans.

And when asked earlier this month if she thought whether Summer could win Senate confirmation, Warren replied, “I don’t know.”

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