Report: Obama To Appoint Yellen For Fed Vice Chair
President Obama will reportedly appoint Janet Yellen, current president of the San Francisco Federal Reserve Bank, as vice chair of the Federal Reserve. Yellen is considered to be a “dovish” Fed policymaker, meaning that she is seen as leaning towards policies that promote employment rather than those that restrain inflation.
Obama’s Day Ahead
President Obama will receive the presidential daily briefing at 9:30 a.m. ET. He will meet at 11 a.m. ET with his national security team on Afghanistan and Pakistan. He will meet at 4 p.m. ET with the President’s Council of Advisors on Science and Technology.
Dodd To Offer His Own Financial Regulation Bill
Sen. Chris Dodd (D-CT) will offer his own financial reform bill, after being unable to reach agreement in negotiations with Sen. Bob Corker (R-TN). “As time moves on, you just limit the possibilities of getting something done, particularly a bill of this magnitude and this complexity,” said Dodd, who is retiring this year.
Corker Blames Health Care Bill For Financial Reform Impasse With Dodd
Sen. Bob Corker (R-TN), who had been negotiating with Sen. Chris Dodd (D-CT) on financial regulation, said that Dodd’s decision to press forward with his own reform bill is “very disappointing.” Corker blamed the continued debates over health care reconciliation, as a cause of the impasse. “The elephant in the room is reconciliation,” said Corker.
Graham To Obama: Don’t Use Reconciliation If You Want Immigration Reform
Sen. Lindsey Graham (R-SC) is telling President Obama that there will not be bipartisan support for immigration reform if health care reconciliation goes forward. “I expressed, in no uncertain terms, my belief that immigration reform could come to a halt for the year if health care reconciliation goes forward … Using reconciliation to push health care through will make it much harder for Congress to come together on a topic as important as immigration,” Graham said in a statement.
Patrick Kennedy: My Dad Was My ‘Audience Of One’
In a profile in the Washington Post, Rep. Patrick Kennedy (D-RI) spoke about his decision to retire from office, and the effect on him of the death of his father, the late Sen. Ted Kennedy (D-MA). “For me, I had an audience of one,” said the younger Kennedy. “That was my dad.”
