In the News
Janet Yellen will be appointed Fed chair tomorrow. Neil and Ylan already wrote the definitive profile of her, but here are the main things you ought to know going into her confirmation hearings.
1. She is perhaps the most qualified Fed chair in history.
Paul Volcker (center, between Elizabeth Warren and Gary Locke) is the only Fed chair who even comes close to Janet Yellen's level of experience. (Chip Somodevilla-Getty Images)
By Saabira Chaudhuri
Already saddled with mounting regulatory scrutiny, Bank of America Corp. (BAC) may see what looked like a closed case reopened as an objection filed by the U.S. government could derail a proposed $500 million settlement the lender struck earlier this year over allegedly defective mortgages.
Late Monday night, the...
Janet Yellen is expected to be nominated to lead the Federal Reserve on Wednesday. Here's what she had to say last November. (Reuters/Kevin Lamarque)
Last November, I interviewed Federal Reserve vice chairwoman Janet Yellen for an article about the Fed that appeared in Money Magazine (go read it!). Magazine space constraints being what they are, most of Yellen's comments ended up on the cutting-room floor. Here, for the first time, are outtakes of that interview with Yellen, whom officials say will be nominated Wednesday to be the next chairman of the U.S. Federal Reserve System.
After 19 months of steady increases, the value of single-family homes in Southern Nevada took a tumble in September.
The median value for the region fell to $180,000, down 1.1 percent from $182,000 in August, according to the Greater Las Vegas Association of Realtors.
It’s the first month-to-month decrease since January 2012, when median value b...
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