Fox Business host Stuart Varney argued that the potential nomination of Federal Reserve Vice Chairwoman Janet Yellen to succeed Chairman Ben Bernanke would be based in part on her gender, making no mention of her aptitude or qualifications for the position.
On the September 26 edition of Fox Business' Varney & Co., host Stuart Varney was joined by Fox Business host Melissa Francis and Fox News contributor Juan Williams to discuss the current and continuing role of the Federal Reserve. The panel largely focused on the recently politicized nature of the nomination process and who is expected to replace Ben Bernanke as chairman. Varney ended the segment by arguing that the potential nomination of Janet Yellen as the next Fed chair would in part be driven by her gender.
VARNEY: Would you agree with me that the lady in question here, Janet Yellen, is a shoo-in to be the next Fed chair because she's female, she's academic, and it is assumed that she would keep on printing money. That conforms with everything that President Obama wants in a Fed chair. She's a shoo-in, agreed?
Varney's contention that gender would play a role in the nomination process reveals a troubling development in right-wing media. Rather than discussing Yellen's qualifications as an economist, her history of accurate econometric predictions, or her broad base of support among economists, conservative media instead focus their attention on Yellen's gender.
On September 18, the Institute for Women's Policy Research sent a letter to President Obama supporting Janet Yellen, signed by more than 500 economists from across the country. The signatures included several former White House economic policy officials and Nobel Prize-winning economist Joseph Stiglitz. Nobel Prize-winning economist Paul Krugman also expressed his support for Yellen's candidacy in The New York Times. From Krugman's article:
Janet Yellen, the vice chairwoman of the Fed's Board of Governors, isn't just up to the job; by any objective standard, she's the best-qualified person in America to take over when Ben Bernanke steps down as chairman.