Yellen would become the first female chief of the nation’s central bank — or any major central bank. As Fed chairman, she would have vast power over the economy, and her record suggests that she would use it to continue for as long as possible a Fed stimulus program aimed at boosting growth. She would also be the top regulator of the nation’s financial system, an area in which less is known about her views. The Washington Post has more here.
Obama To Meet with Members of Congress Today - President Obama will meet Wednesday afternoon with House Democrats to discuss the government shutdown and looming debt ceiling deadline, a White House official said.
The president will also invite House Republicans, as well as the Senate caucuses from both parties, to visit in the coming days.
The congressional outreach effort comes nine days into the government shutdown, and with just over a week until Oct. 17 — the day the Treasury Department says the nation will hit the debt ceiling. TheHill.com has more here.
GOP Unity Frays, Frustration Builds - A reality is beginning to dawn on — and eat away at — many House Republicans: They aren’t at all sure of their party's strategy to re-open government and lift the debt ceiling.
After forcing leadership to pick a fight it didn’t want to pick, sitting through hours of meetings with lots of internal hand-wringing and failing to force Democrats to negotiate, the path to avoid a prolonged government shutdown and the first debt default in American history is completely uncertain.
If anybody tells you it’s clear to anybody let me know,” said Rep. Pete Sessions of Texas, the chairman of the Rules Committee and a member of Republican leadership. “I’ll call them collect.” Politico.com has more here.
Jon Stewart was in disbelief Tuesday after Republicans actually tried to place blame for the government shutdown on Democrats.
"The party of personal responsibility ain't takin' none," Stewart said.
"They had a deal but...Obamacare!" Stewart said.
"Look, you think Obamacare's a big enough threat to this country that you need to shut down the government over it, fine. Own it," he continued. "Don't fart and point at the dog." TPM.com has more here.
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