More than 350 economists back Yellen for Fed chair

By Jim Kuhnhenn The Associated Press

Published: September 11, 2013 12:41 pm
This is an archived article that was published on sltrib.com in 2013, and information in the article may be outdated. It is provided only for personal research purposes and may not be reprinted.

WASHINGTON • More than 350 economists have a signed a letter to President Barack Obama calling on him to nominate Federal Reserve Vice Chair Janet Yellen to be the Fed's next chairman. The letter is designed to draw attention to Yellen amid signs that Obama is leaning toward nominating his former economic adviser Larry Summers.

The letter, whose signers include economists with past ties to Obama, says Yellen understands the relationship between monetary policy and economic growth. It says she possesses a "nuanced understanding" of labor markets and that she has demonstrated an ability to hear all points of view.

Obama is expected to announce his nomination as early as this month. Fed Chairman Ben Bernanke's term ends Jan. 31, 2014.

The White House declined to comment on the letter.

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