janet yellen

The minutes of the FOMC's September meeting show more quantitative easing may be needed "before long," but the bankers delayed any moves while waiting for more data.

In addition to San Francisco Fed President Janet Yellen, the White House also said its other likely candidates for the open seats on the Fed board were MIT's Peter A. Diamond, an expert on Social Security, and Maryland financial regulator Sarah Bloom Raskin.

Janet Yellen, the president of the San Francisco Fed, is expected to be nominated as the new vice chairman of the Federal Reserve as early as today. Yellen, a strong supporter of Chairman Ben Bernanke's monetary policies, would replace Donald Kohn, who will retire in June.

The CEO and co-CIO at Pacific Investment Management (PIMCO), Mohamad El-Erian, today told Bloomberg Radio he expects the Federal Reserve to keep interest rates low "for a long time" to heal a damaged financial system and an economy with no signs of rebound. PIMCO manages the world's largest bond...