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Oct 10, 2013

Obama’s Fed pick Yellen puts focus on jobs, stability

WASHINGTON (Reuters) – Federal Reserve Vice Chair Janet Yellen, President Barack Obama’s pick to lead the U.S. central bank, said on Wednesday that strengthening the economic recovery and boosting employment would be priorities if she is confirmed as Fed leader.

Yellen, an advocate of the central bank’s aggressive actions to stimulate economic growth through low interest rates and large-scale bond purchases, would replace Fed Chairman Ben Bernanke, whose second term ends on January 31.

Oct 9, 2013

Obama picks Yellen for top Fed job, urges quick Senate approval

WASHINGTON, Oct 9 (Reuters) – President Barack Obama
nominated Federal Reserve Vice Chair Janet Yellen on Wednesday
to run the world’s most influential central bank, praising her
consensus-building skills and saying more needed to be done to
boost U.S. employment.

Yellen, an advocate for aggressive action to stimulate
economic growth through low interest rates and large-scale bond
purchases, would replace Fed Chairman Ben Bernanke, whose second
term ends on Jan. 31.

Oct 9, 2013

Obama, Congress search for way out as pressure rises in fiscal stalemate

WASHINGTON (Reuters) – With pressure rising and no clear path forward for breaking their fiscal impasse, President Barack Obama began inviting lawmakers to the White House on Wednesday for meetings to discuss the government shutdown and raising the debt limit.

House Democrats will make the first visit later on Wednesday, and House Republican leaders will journey to the White House on Thursday as the search intensifies for a way to break an impasse that has worried markets and sparked warnings about the potential for economic havoc.

Oct 9, 2013

Obama to choose Yellen for top Fed job, markets relieved

WASHINGTON (Reuters) – U.S. President Barack Obama will nominate Federal Reserve Vice Chair Janet Yellen on Wednesday to run the world’s most influential central bank, providing some relief to markets that would expect her to tread carefully in winding down economic stimulus.

The nomination will put Yellen on course to be the first woman to lead the institution, and the first to head a central bank in any Group of Seven industrial nation.

Oct 9, 2013

Obama to name Yellen as next Fed chair on Wednesday

WASHINGTON (Reuters) – President Barack Obama will announce his choice of Federal Reserve Vice Chairwoman Janet Yellen to be the next head of the U.S. central bank on Wednesday, putting her on course to be the first woman to lead the institution in its 100-year history.

If confirmed by the U.S. Senate, Yellen would replace Ben Bernanke, whose second four-year term as head of the Fed expires on January 31.

Oct 8, 2013

Obama to name Yellen as next Fed chair on Wednesday -White House

WASHINGTON, Oct 8 (Reuters) – President Barack Obama will
announce his intent to nominate Federal Reserve Vice Chairwoman
Janet Yellen to be the next head of the U.S. central bank on
Wednesday, a White House official said on Tuesday.

If confirmed by the U.S. Senate, Yellen would replace Ben
Bernanke, whose current term as head of the Fed ends in January.
Obama is due to make the announcement at the White House at 3
p.m. (1900 GMT). Bernanke is also scheduled to attend.

Oct 8, 2013

Obama pulls out stops in warning on debt default

WASHINGTON (Reuters) – Evoking financial chaos and economic hardship, President Barack Obama on Tuesday warned Americans they would be hurt if Congress lets the United States default on its debt, and cautioned against listening to anyone saying the effects are exaggerated.

At a hastily scheduled news conference at the White House, Obama gave his strongest warning to date about the risks if Congress fails to raise the U.S. debt ceiling before an October 17 deadline.

Oct 8, 2013

U.S. still in fiscal deadlock, but glimmers of hope emerge

WASHINGTON (Reuters) – A few faint glimmers of hope surfaced on Monday in the U.S. fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation’s borrowing authority to avoid a default.

Separately, a Senate aide said Republican Senator Rob Portman, an Ohioan influential on budget issues, was floating a plan to cut federal spending and reform the U.S. tax code as part of a broader deal to reopen shuttered government agencies and raise the government’s debt ceiling.

Oct 8, 2013

U.S. in fiscal deadlock, but glimmers of hope emerge

WASHINGTON (Reuters) – A few faint glimmers of hope surfaced on Monday in the U.S. fiscal standoff, both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation’s borrowing authority to avoid a default.

Separately, a Senate aide said Republican Senator Rob Portman, an Ohioan influential on budget issues, was floating a plan to cut federal spending and reform the U.S. tax code as part of a broader deal to reopen shuttered government agencies and raise the government’s debt ceiling.

Oct 7, 2013

U.S. still in fiscal deadlock but looking for a way out

WASHINGTON (Reuters) – There were signs of stepped up efforts on Monday to find an exit strategy from the current U.S. fiscal crisis both in Congress and at the White House, with President Barack Obama saying he would accept a short-term increase in the nation’s borrowing authority in order to avoid a crisis.

Separately, a Senate aide said Republican Senator Rob Portman, an Ohioan influential on budget issues, was floating a plan to cut federal spending and reform the U.S. tax code as part of a broader deal to reopen shuttered government agencies and raise the government’s debt ceiling in order to avoid default.

    • About Mark

      "Mark Felsenthal is a Reuters White House correspondent who covered Barack Obama's re-election in 2012 and the fiscal crisis that immediately followed. Since joining Reuters in 2001, he has written about monetary policy, currency wars, and the housing market meltdown."
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