Update: 300 economists sign letter supporting nomination of Yellen as Fed Chair

From today’s LA Times:

More than 300 economists have signed anopen letter to President Obama urging him to nominate Janet L. Yellen to be the next head of the Federal Reserve, citing her “consistently good judgment” and her commitment to reducing unemployment.

“In our opinion, she is the best possible leader for the Federal Reserve Board at this critical time in our nation’s history,” the letter said.

“Her knowledge of how the Fed sets policy, her understanding of the relationship between monetary policy and economic growth, and her ability to see and propose solutions to emerging economic problems is second to none,” it said.

Among those signing the letter are Nobel Prize winner Joseph Stiglitz, former Fed governors Alan Blinder and Alice Rivlin and two prominent former Yellen colleagues at UC Berkeley, Christina Romer and Laura D’Andrea Tyson.

Read the entire article here.