President Barack Obama s likely choice of Janet Yellen to become vice chairman of the Federal Reserve would favor a policy that stresses low interest rates to ease unemployment over higher rates to curb inflation.

A group of current and former advisers to the Federal Reserve on consumer-related issues on Friday urged the importance of an independent consumer protection agency, as part of U.S. financial regulatory reform.

San Francisco Federal Reserve Bank President Janet Yellen, a monetary policy dove, tops President Barack Obama s list to be No. 2 at U.S. central bank, the White House said on Friday.

* White House confirms Yellen considered for No. 2 at Fed

San Francisco Federal Reserve Bank President Janet Yellen is a leading contender to be the next vice chairman of the central bank, according to White House press secretary Robert Gibbs.

Shares initially gained after a rise in retail sales was reported, but slipped after a disappointing report on January’s business inventories.

Among the companies whose shares are expected to see active trading Monday are Apple, Citigroup and Exxon Mobil.

FALL OF A WALL STREET TITAN: The investment bank Lehman Brothers, saddled with tens of billions of dollars of troubled assets, collapsed into bankruptcy in September 2008. Its fall precipitated the financial meltdown.