Survey: Wall Street DOES NOT want Larry Summers as next Fed chief

[deutsey]

6. She was Obama's choice for vice-chairman of the Federal Reserve System

according to her Wikipedia bio:

On April 28, 2010, President Obama nominated Yellen to succeed Donald Kohn as vice-chairman of the Federal Reserve System.[11] In July, "[t]he Senate Banking Committee voted 17 to 6 to confirm her, though the top Republican on the panel, Senator Richard C. Shelby of Alabama, voted no, saying he believed Ms. Yellen had an 'inflationary bias.'" At the same time, on the heels of concerned testimony by Fed chair Bernanke, FOMC voting member James B. Bullard of the St. Louis Fed made a statement that the U.S. economy was "at risk of becoming 'enmeshed in a Japanese-style deflationary outcome within the next several years.'" Bullard's statement was interpreted as a possible shift within the FOMC balance between inflation hawks and doves. Yellen's pending confirmation, along with those of Peter A. Diamond and Sarah Bloom Raskin to fill vacancies, was seen as possibly furthering such a shift in the FOMC. All three nominations were seen as "on track to be confirmed by the Senate."[12]

On October 4, 2010, Yellen was sworn in for a 4-year term ending October 4, 2014. Yellen simultaneously began a 14-year term as a member of the Federal Reserve Board that will expire January 31, 2024.