Ms. Yellen, 67, was nominated by President Obama who claims that she is one of the best economists of the country, to lead the Federal Reserve. The vice-chairwoman would be replacing Mr. Bernanke, whose terms ends on January 31st.
The Federal Reserve is the biggest bank in the United States; it is in charge of printing currency, lowering or raising interest rates, and generally keeping the economy afloat. This makes the nomination a big step in the woman’s rights movement, as Yellen would be in charge of the U.S. economy. In a male-dominated government, appointing a female to head the Federal Reserve will show the progress the country is making towards giving equal rights to everyone. So far only a few people have spoken out against Yellen, but do so because of her policies, not her gender.
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