Cloudy

52°F

Shelton, WA

Cloudy
Humidity: 93%
  • Flood Warning Extends Through Thursday Morning

    skok floodThe flood warning continues for the Skokomish River near Potlatch affecting Mason County, Olympic Peninsula Region. While showers will continue over the south slopes of the Olympics, heavy rain has come to an end. The three to five inches of… Read More +

  • 1
  • Olympia Hospital Must Start Paying Business Tax

    Prov-St.Peter-Hospital-OlympiaProvidence St. Peter Hospital in Olympia will have to start paying a city business tax that will cost it an estimated $340,000 next year. The City Council voted Tuesday to remove the business and occupation tax exemption for religious and medical… Read More +

  • 1
  • Seahawks Roster Moves

    brackettThe Seattle Seahawks have claimed TE Brett Brackett off waivers from the Tennessee Titans and released TE RaShaun Allen, the team announced this afternoon. Brackett was originally signed as an undrafted free agent by the Miami Dolphins on July 28, 2011. He spent time on the Miami, Jacksonville and Philadelphia practice squads during 2011. Signed to the Jaguars active roster on September 1, 2012,

    Read More
  • 1

Fed Chair Nominee Janet Yellen: Five Surprising Things

b_250_0_16777215_00_images_obgrabber_2013-10_f3cc5403ac.jpgChip Somodevilla/Getty Images (WASHINGTON) -- President Obama on Wednesday nominated Janet Yellen to take over as chair of the Federal Reserve, the first time a woman has been picked to head a major central bank anywhere in the world. Here are five things to know about Yellen, 67.

1. Finding a Babysitter Led Her to a Theory on Labor
In the 1980s while she and her husband, economist George A. Akerlof, were professors at UC Berkeley, they were looking for a babysitter and along the way discovered a theory on what motivates people to take jobs. They found that employers are willing to fire people rather than cut wages in a tough economy because employees, even babysitters, would rather be unemployed than underpaid.

2. She’s a Bit of a Dork
You might expect the chair of the Federal Reserve to be something of a nerd. And you’d be right. As a senior at Fort Hamilton High School in Brooklyn, N.Y., in 1963, the editor of the school paper was expected to interview the class valedictorian. Yellen was both, so she interviewed herself. When she asked herself if she enjoyed working at the paper, The Pilot, the 18-year-old who would go on to study economics at Pembroke College, quipped, “No comment.”

3. She’ll be the First Democrat to Helm the Fed in 30 years
Yellen was appointed to the Fed’s board of governors by Bill Clinton in 1993. She was tapped by President Obama after it became clear his first pick, former Harvard University President Larry Summers, would not get confirmed. Liberal central bankers, however, tend to be more conservative than liberal politicians, and many expect Yellen to continue the monetary policies of her predecessor Ben Bernanke.

4. She’s a “Dove”
Much of Yellen’s academic research was on the cost and causes of unemployment. She has a reputation for being a “dove,” someone who believes keeping interest rates low will reduce unemployment, rather than raising them to combat inflation. “These are not just statistics to me. We know that long-term unemployment is devastating to workers and their families,” she said in a speech to the AFL-CIO labor union in February.

5. Economics Is a Family Business
Yellen met husband George A. Akerlof in the Fed cafeteria in 1977, and they married the following June. Akerlof won the Nobel Prize for Economics in 2001. They have a son, Robert Akerlof, an economics professor at the University of Warwick in England.

Copyright 2013 ABC News Radio

  1. Environment
  2. Recreation

Tweets

PSETalk
PSETalk - Power restored to all #Bellevue customers. Servicemen removed a tree in the line at NE 4 St & 160 Ave NE. Thanks again for your patience!

3 hours ago

wsferries
wsferries - 9:45pm BI > SEA sailing cancelled. bit.ly/9EfdcV

4 hours ago

wsdot_tacoma
wsdot_tacoma - Cleared: Collision on SR 3 NB near Judy Lane at mp 24

4 hours ago

wsferries
wsferries - 9:45pm BI > SEA, and 10:30pm SEA > BI sailings cancelled. bit.ly/9EfdcV

4 hours ago

Public Notices