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Business Matters: Janet Yellen nominated as Next Federal Reserve Chair

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10/10/2013

Janet Yellen nominated as Next Federal Reserve Chair

BBC World Service - Business Matters, Janet Yellen nominated as Next Federal Reserve Chair

President Obama nominates Janet Yellen as the next head of the Federal Reserve

President Obama nominates 'jobs champion' Janet Yellen as the next head of the US Federal Reserve. Plus, Samsung's new mobile phone with a curved screen.

Janet Yellen is set to become the first woman to head the US Federal Reserve after being nominated by President Obama. Is she up to one of the toughest - and most important - jobs in the finance world? We ask professor Laura Tyson of the Haas Business School. 

Washington suspends arms deliveries and cash handouts to Egypt to show disapproval of the military-backed government. And, we find out how the great US government shutdown is having a very real impact on some would-be American entrepreneurs. 

Plus, would you buy a mobile phone shaped like a banana? Samsung would like to think you would because it has launched a smartphone with a curved display - and a pricetag of a thousand dollars. And, we discover why electronic dance concerts are drawing crowds in their hundreds of thousands in the US - and who is making money out of it all. 

We are joined throughout the programme by Peter Morici, an economist at the University of Maryland in the US, and Stuart Oakley from investment bank Nomura in Singapore.

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