PHOTO! Here is a picture of Janet Yellen expected to be named vice chairman of the Federal Reserve Board. Janet Yellen is currently president of the Federal Reserve Bank of San Francisco.

But reports say Obama is set to tap Yellen for the number 2 position on the Fed Board.

In other news, President Barack Obama announced his intent to appoint the following individuals to the President’s Export Council:

* W. James McNerney, Jr., Chair, President’s Export Council
* Ursula M. Burns, Vice Chair, President’s Export Council

President Obama said, “Jim and Ursula are tremendously talented and experienced, and I am grateful that they have chosen to serve in these important roles as we work to strengthen our economy and create good jobs by boosting our exports. I look forward to working with them in the weeks and months ahead.”

W. James McNerney, Jr., Appointee for Chair, President’s Export Council

W. James McNerney, Jr., is Chairman, President and Chief Executive Officer of The Boeing Company. Previously, he served as Chairman and CEO of 3M, President and CEO of GE Aircraft Engines and GE Lighting; President of GE Asia-Pacific; President and CEO of GE Electrical Distribution and Control; executive Vice President of GE Capital; and President of GE Information Services. Prior to GE, Mr. McNerney worked at Procter & Gamble and McKinsey & Co., Inc. Mr. McNerney is currently on the Board of Directors for Procter & Gamble and IBM, a member of The Field Museum Board of Trustees in Chicago, a trustee of Northwestern University, and a member of the Northwestern Memorial HealthCare Board. He also serves on The Business Roundtable, and is the former chair of The Business Council, the US-China Business Council, and the American Society of Corporate Executives. Mr. McNerney is a fellow of the American Academy of Arts and Sciences and an honorary fellow of the Royal Aeronautical Society. He earned his M.B.A. from Harvard University in 1975 and B.A. from Yale University in 1971.

Ursula M. Burns, Appointee for Vice Chair, President’s Export Council
Ursula M. Burns is the Chief Executive Officer of Xerox Corporation. She joined Xerox in 1980 as a mechanical engineer summer intern and later assumed roles in product development and planning. From 1992 through 2000, Ms. Burns led several business teams including the office color and fax business and office network printing business. In 2000, she was named senior vice president, Corporate Strategic Services, heading up manufacturing and supply chain operations. She then took on the broader role of leading Xerox’s global research as well as product development, marketing and delivery. In April 2007, Ms. Burns was named president of Xerox, expanding her leadership to also include the company’s IT organization, corporate strategy, human resources, corporate marketing and global accounts. At that time, she was also elected a member of the company’s Board of Directors. Ms. Burns was named chief executive officer in July 2009. She serves on a number of professional and community boards, including American Express Company and the Massachusetts Institute of Technology. She was also named to help lead the White House national program on STEM (science, technology, engineering and math) in November 2009. Ms. Burns earned a Bachelor of Science degree in mechanical engineering from Polytechnic Institute of NYU and a Master of Science degree in mechanical engineering from Columbia University.