NY Times Endorses Janet Yellen For Fed Chair

The New York Times editorial board on Tuesday endorsed Janet Yellen for chair of the Federal Reserve, urging President Barack Obama to nominate the current vice chairwoman of the Fed’s Board of Governors for the top post over Larry Summers, a former treasury secretary during Obama’s first term.

“Nothing that has occurred in the past week changes the fact that no one else can match Janet Yellen’s combination of academic credentials and policy-making experience,” it read. “And no one ever confirmed to the job has come to it with as deep a grounding in both the theory and practice of monetary and regulatory policy as Ms. Yellen would bring.”