Maybe this should not be a pro-woman topic. Maybe her selection should not be about female representation in high ranking federal positions, but it really is. Her service will come at a time when the public in general has grown tired of misguided leadership from the old boys of the past. Of course, men are not to fault for the current status quo of politics because of their gender per se. Our economy is and has been at a standstill for sometime now, and that men have ruled politics and held leading positions does not directly have anything to do with the ongoing slump.
Whether or not Yellen is the savior remains to be seen, but she's starting on a positive note. She appears to be well-respected. No one has publicly criticized her. They are skeptical of her policies, mainly because it mirrors Bernanke's. It has a lot to do with their approach to addressing inflation. Like Bernanke, she has supported the purchase of billions of dollars of bonds to control market forces. Unless someone offers a better solution, bond buying it is. Other than that, much of the feedback has been positive. A recent Wall Street Journal survey showed that many economists were optimistic about her ability to lead the Reserve. Although most believed she would follow Bernanke's policy style, 60 percent were confident in her abilities. But let's ignore her leadership for now.
Second, she is well regarded. Sure, she has been scrutinized, but not because she is a women or potentially incompetent. Much of the skepticism is geared at whether she is able to undo, oh, about a decade's worth of damage to the economy by her predecessors. So far, neither her personality or her qualifications have been attacked. With a little strategy, she can use her experience and reputation to create a cohesive, amicable ambiance at the Fed. Maybe then will those old boys finally get the job done. Skeptics beware: never underestimate the power of comradeship.