Evan Soltas: Does Yellen Pick Show Obama Finally Cares About Jobs?:
Janet Yellen, at long last President Barack Obama's nominee for the next chairman of the Federal Reserve, is also something else: His first appointment focused on jobs and economic growth. It's a sad fact that, five years into his presidency, Obama has shown little interest in nudging monetary policy toward growth--or even just appointing growth-minded policy makers. Yellen changes that. She has been outspoken about the need for the central bank to support a U.S. economic recovery with accommodative monetary policy--and, in particular, to reduce unemployment. Meanwhile, Obama has been an outspoken, if not well-argued, advocate for the hawkish view that continued easing creates risks of financial bubbles and instability.