President Obama today nominated Janet Yellen to chair the Federal Reserve. An economist, academic and current vice chair of the Federal Reserve, Yellen would be the first woman to serve in the post. Following is a statement by SEIU President Mary Kay Henry:

Janet Yellen is aware of what working people lost during the economic recession as well as the difficulty they continue to face in this economy. Five years after the worst economic crash in generations, the financial industry has recovered but far too many working people have not. Unemployment remains unacceptably high, and many workers face stagnant or declining wages.

"Yellen is committed to maximum employment, and she has been outspoken in her belief that the top priority of the Federal Reserve should be to facilitate jobs growth. She recognized the warning signs of a faltering economy before the 2008 economic crash even when others were more optimistic. She is a distinguished economist with a long record of academic accomplishment and public service. SEIU applauds her nomination. The Senate should move quickly to approve her."

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