Those of you who were yelling for Yellin to be the next chairperson of the Federal Reserve have gotten your way. She was confirmed by the Senate tonight in a 56 to 26 vote. I don’t know if there were a lot of absences or abstentions, or some of both.
I don’t think she was the president’s first choice. I got the feeling that he had promised the post to Larry Summers way back when he first brought him into the administration. If that’s true, it was a promise he couldn’t keep, as progressive senators rose up to block Summers’ potential nomination.
Either way, Obama can now say that he was the first president to nominate a women to head the Fed.
Personally, I don’t think we’ll notice much of a change. I hope to be proven wrong.