True for the USA, the old saying states that bad luck comes in threes. Now the country is facing myriad domestic problems, to wit the partial government shutdown and a possible U.S. default due to the debt ceiling. It would seem that any shifts within the USA should go unnoticed, but everything that happens in the USA matters for the global community. For this reason, the list of the candidates is carefully scrutinized by the whole world. President Barack Obama recently cleared the air by suggesting the current Fed’s vice chairman to replace Ben Bernanke. It should be noticed that two weeks earlier former economic adviser Lawrence Summers withdrew his candidacy. Meanwhile, Janet Yellen received support from more than 400 economists, investors, politicians, and representatives of social organizations. Now Janet Yellen's nomination must be approved by the Senate. Her selection, according to the economists, would mark continuity at the Fed, maintaining Ben Bernanke’s accommodative policy to address soaring unemlpoyment. Complied with the present legislation, Bernanke’s term expires at the end of January 2014. He has been in the job for 8 years. Now, in case the Senate approves Yellen’s nomination, she will be the first female chair of the Fed.
