(CNN) -- Two weeks into the U.S. government shutdown and, days before a potential default, president Barack Obama has made a last ditch attempt to restore credibility to the world's largest economy. In nominating Janet Yellen to chair the mighty Federal Reserve, the president has tried to soothe markets already roiled by Washington D.C.'s bickering. Do investors care whether Yellen is a woman? "Of course not," I hear you cry. What they care about is whether she will print more, cheap money and keep rates low. WATCH MORE: The most powerful woman you've never heard of But aside from her immediate leanings on quantitative easing, Yellen's nomination is an important milestone for female representation in the world of monetary policy.
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Janet Yellen has been nominated by President Obama to lead the Federal Reserve
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This would make her one of the most powerful women in the world
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But it also reveals how few female central bankers there are around the world
Though her appointment still has to be approved @placeholder's promotion will make her arguably the second most powerful person in the United States.