WASHINGTON (MNI) – The following is the text of a statement by San
Francisco President Janet Yellen Thursday following the announcement by
the White House of her nommination to fill the post of outgoing Fed Vice
Chairman Donald Kohn:
Following the White House announcement today that President Obama
has asked her to serve as Vice Chairman of the Federal Reserve Board of
Governors, Janet L. Yellen, President and Chief Executive Officer of the
Federal Reserve Bank of San Francisco said:
“I’m honored that President Obama has asked me to serve in that
capacity. If confirmed by the Senate, I am looking forward to working
even more closely with Chairman Bernanke and the other governors, and
continuing to collaborate with my colleagues throughout the Federal
Reserve System to conduct policies that foster economic prosperity and
ensure a stable financial system.
“I am strongly committed to pursuing the dual goals that Congress
has assigned us: maximum employment and price stability and, if
confirmed, I will work to ensure that policy promotes job creation and
keeps inflation in check.”
** Market News International Washington Bureau: 202-371-2121 **
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