Yellen Confirmed as Fed Chair Despite Knee-Jerk Republican Opposition

Janet Yellen has been confirmed as Fed chair with 56 votes. Bad weather kept a lot of senators out of town, but even if everyone had been present she would have gotten no more than about 66 votes:

It is the thinnest margin of Senate approval for a Fed chairman in the central bank’s history. Mr. Bernanke was confirmed for a second term as chairman with 70 yes votes and 30 no votes in 2010.

Only 11 Republicans voted for Yellen’s confirmation, despite the fact that she’s perhaps the best qualified nominee in history; has demonstrated considerable foresight during her term as vice-chair; and almost literally has provided no reason to vote against her. But it doesn’t matter. She’s Obama’s nominee, so she has to be opposed. If Republicans want to know why Democrats finally got fed up enough to change the filibuster rules, this vote speaks louder than any words possibly could.

One More Thing

And it's a big one. Mother Jones is launching a new Corruption Project to do deep, time-intensive reporting on the corruption that is both the cause and result of the crisis in our democracy.

The more we thought about how Mother Jones can have the most impact right now, the more we realized that so many stories come down to corruption: People with wealth and power putting their interests first—and often getting away with it.

Our goal is to understand how we got here and how we might get out. We're aiming to create a reporting position dedicated to uncovering corruption, build a team, and let them investigate for a year—publishing our stories in a concerted window: a special issue of our magazine, video and podcast series, and a dedicated online portal so they don't get lost in the daily deluge of headlines and breaking news.

We want to go all in, and we've got seed funding to get started—but we're looking to raise $500,000 in donations this spring so we can go even bigger. You can read about why we think this project is what the moment demands and what we hope to accomplish—and if you like how it sounds, please help us go big with a tax-deductible donation today.

We Recommend


Sign up for our newsletters

Subscribe and we'll send Mother Jones straight to your inbox.

Get our award-winning magazine

Save big on a full year of investigations, ideas, and insights.


Support our journalism

Help Mother Jones' reporters dig deep with a tax-deductible donation.