10 things you need to know today: October 9, 2013

Obama picks Janet Yellen to lead the Fed, the shutdown cuts off military death benefits, and more

Yellen
(Image credit: (AP Photo/Eugene Hoshiko))

1. Obama to nominate Janet Yellen for Fed chair

President Obama plans to nominate Janet Yellen to succeed Ben Bernanke as head of the Federal Reserve, the White House said Tuesday. If Yellen is confirmed, the former University of California economist — currently the Fed's vice chairwoman — will be the first woman to lead the central bank. Yellen would be a more popular pick than Obama's reported first choice, former Treasury Secretary Larry Summers, who withdrew in September due to stiff opposition to his candidacy. [Los Angeles Times]

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Harold Maass, The Week US

Harold Maass is a contributing editor at The Week. He has been writing for The Week since the 2001 debut of the U.S. print edition and served as editor of TheWeek.com when it launched in 2008. Harold started his career as a newspaper reporter in South Florida and Haiti. He has previously worked for a variety of news outlets, including The Miami Herald, ABC News and Fox News, and for several years wrote a daily roundup of financial news for The Week and Yahoo Finance.