Brooklyn Native Janet Yellen Confirmed As Fed Chair
The Senate has easily approved Brooklyn native Janet Yellen's nomination to head the Federal Reserve.
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The Senate has easily approved Brooklyn native Janet Yellen's nomination to head the Federal Reserve.
Yellen graduated from Brown and Yale and taught at Harvard, but Brooklyn Borough President Marty Markowitz said her trajectory to success began before she ever arrived as those distinguished institutions.
There was no let-up in the flight from stocks and bonds Thursday as the Dow Jones industrial average plunged 353 points Thursday and wiped out almost two months of gains.
New evidence on Friday morning revealed that the economy added 192,000 jobs in February, and the unemployment rate dropped to 8.9 percent—the lowest in almost two years.
Global stock markets staged an explosive rally Thursday, embracing a move by the Federal Reserve to try to rejuvenate the U.S. economy by buying $600 billion in Treasury bonds.
