Why I’m glad Yellen was tapped to run the Fed

Janet YellenWith their PhDs and economic jargon and mysterious market-moving meetings in Washington, D.C., the Federal Reserve may seem pretty far removed from the day-to-day finances of the average person.

But there are few humans on the planet who have more power over the economy we all live and work in than the chairman of the Federal Reserve. Their decisions affect the rates we get on financial products almost all of us use — mortgages, credit cards and investments — and the health of the labor market where most of us earn the majority of the income we depend on.

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