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Dean Baker

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What Kind of Fed Chief Would Janet Yellen Be?

With Ben Bernanke's term poised to expire early next year, Wall Street continues to ponder who will be controlling the levers of the Federal Reserve's $3 trillion balance sheet in 2014.It's possible that Bernanke, at the behest of President Obama, decides he wants to finish the historic job he started. But Fed watchers are betting the 59-year-old will hand over the keys to Janet Yellen, a central banker built very much in his own mold.In addition to becoming the first female chief of the world's most powerful central bank, Yellen would represent a status-quo pick who would be welcomed by those seeking more quantitative easing, but only add to the sense of dread among those fearing a Fed-induced inflation spike or asset bubble."She's not a 180 from Ben Bernanke. I think they are kindred spirits," said Ernie Patrikis, former general counsel of the New York Federal Reserve. "The lady is eminently qualified."Yellen, who Obama nominated as vice chair of the Fed in 2010, is now seen as the o...

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  1. Wall Street's Jobs Rally Loses Steam

    FOX Business: The Power to ProsperAfter touching 2007 levels earlier in the day, the blue chips trimmed their gains Friday afternoon and the Nasdaq Composite dipped ...

  2. What's to Blame for the Grim Labor Market?

    Even as the Federal Reserve unleashed another easing program on Thursday to fight stubbornly high unemployment, many argue that the poor economy isn't the only cause...

  3. Should Big Banks be Broken Up?

    Is the best way to end "too big to fail" cutting big banks down to size? Maybe. But it's unclear how taking a giant regulatory cleaver to the nation's largest banks ...

  4. Federal Reserve, Congress Go Into Summer Reruns

    This week's meeting of the Federal Reserve's policymaking group is like that movie you watch on TV that you've already seen in the theater. You know how it ends.The ...

  5. Free Money? Pocketing Insurance Claims Cash vs. Making Repairs

    You've had a car accident and you're relieved to find that the damage to your vehicle is only cosmetic.When the check for repairs arrives from the insurance company,...

  6. Obama to Propose Corporate Tax Overhaul

    The Obama administration on Wednesday will propose cutting the top tax rate for corporations to 28 percent, and pay for it by eliminating dozens of tax loopholes com...

  7. Encourage Employers to Reduce Hours to Save Jobs?

    Dean Baker of the Center for Economic & Policy Research argues employees working less hours will create and save jobs.

  8. Despite Downgrade, U.S. Still Towers Over Peers

    Don’t let last weekend’s credit downgrade fool you; the U.S. is still the world’s preeminent economy and has countless underlying advantages that no one else can boa...

  9. Forget the Debt Ceiling -- Worry About the Economy

    While the debt-ceiling debate grabs all the headlines, there's a potentially more troubling scenario developing for financial markets: a crumbling economy.New report...

  10. No Advantage Taking Social Security Early

    Dear Dr. Don,With all the talk of "means testing" Social Security , doesn't it make sense to retire early and stop saving?-- Steve StoppageDear Steve,A means test fo...

  11. Will 'Successful' Bailouts Lead to Future Ones?

    Chrysler deserves to be applauded this week for returning $7.6 billion in bailout cash it received during the economic crisis six years ahead of schedule. Yet some f...

  12. Government Gives Homeowners Money to Walk Away

    Center for Econmic Policy Research Co-Director Dean Baker weighs in on mortgage problems.

  1. How Patient Investors Can Profit from U.S. Immigration Reform

    Thousands of new customers, more skilled engineers, potentially higher economic growth--immigration reform holds a bevy of benefits for investors.Make that for patie...

  2. Experts Predict Path of Mortgage Rates in 2013

    Expect mortgage rates to be higher at the end of 2013 than at the beginning of the year. That's the consensus among mortgage experts whose opinions were solicited at...

  3. Obama's Treasury Pick Elevates Budget Battles Over Crisis Management

    By tapping Tim Geithner for his most important Cabinet position in the scary days of 2009, President Obama signaled the Treasury Department's immediate focus on cris...

  4. What the President Can Learn from Business Executives 

    The president is looking to get insight and support from leaders and lawmakers regarding the looming fiscal cliff and will sit down with top executives from the busi...

  5. Who Tops Obama's Treasury Secretary Short List?

    If President Obama holds on to the White House in November, he's likely to quickly move to fill the vacancy caused by the imminent departure of Treasury Secretary Ti...

  6. September Unemployment Rate a Statistical Fluke?

    Center for Economic and Policy Research Co-Director Dean Baker argues the September unemployment rate likely didn’t fall as much as reported.

  7. Jobs Friday Fizzles Out

    FOX Business: The Power to ProsperThe S&P 500's four-day win streak came to a halt on Friday as Wall Street ended the day with a mixed verdict, mirroring the mixed f...

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