Who is the most powerful woman in the world? According  to the US media, it's Janet Yellen, or at least she's about to be. On Oct 9, 2013,US President Barack Obama nominated  Yellen to serve as the next US Federal Reserve (the Fed, )chair. If confirmed by the Senate, Yellen will become  the first woman to serve in the top spot. Aged 67, silver-haired and tiny, Yellen is said to be the most qualified nominee ever. She chaired President Bill Clinton's Council of Economic Advisers, taught at Harvard and Berkeley, and was president of the Federal Reserve Bank of San Francisco. She is currently the Fed's vice chair. Many think Yellen is the right choice to deal with the challenges the Fed now faces:First, to bring interest rates back to more normal levels without triggering a new recession .Second, to reduce the US unemployment rate, which remains at historically high levels. A CNN opinion piece says Yellen is unusual for an economist of her caliber ."She has kept her eyes on what's critical-the people. Her research has centered on unemployment, on the best way to modulate government policies to benefit the people." Past records also show that Yellen is exceptionally good at predicting where the economy is headed. An article in The Washington Post points out that she was one of the few voices at the Fed inDecember 2009 warning about the subprime crisis and the following recession. The reason why Yellen will be the most powerful woman in the world has to do with the unique position of the Federal Reserve, explains an article on Quartz, a US news outlet for business people in the new global economy, First of all, the Fed is independent. Unlike US Secretaries of State Madeleine Albright and Hilary Clinton, the decisions made by the organization Yellen will lead next year are not subject to approval by anyone in the government. Within the Fed, the chair alone sets the agenda. The Fed chairperson has huge influence on monetary policy and financial regulation. And don't forget how powerful the Fed itself is. It controls the money supply in the world's largest economy. The Fed's interest rate decisions don't just set the course for the US economy, its decisions set the course for the world economy, too. Because of globalization, Yellen's decisions will affect everyone around the world, says an article in The Atlantic, making her even more powerful than some great women rulers in history,  including Elizabeth I of England and China's Wu Zetian. For example, the article continues: "If Yellen even just talks about slowing down the Fed's bond-buying, Europe's troubled economies are likely to see their interest rates rise, and emerging markets, some of which, like India and Indonesia, used foreign capital to fund their current account deficits ,are likely to see their currencies collapse." What is the author's attitude towards Yellen's being nominated?
Optimistic. Negative. Understanding. Doubtful.