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But Bloomberg has declared that Bettencourt's only daughter  Francoise Bettencourt Meyers  is now officially the world's richest woman  ahead of Alice Walton  the Walmart heiress. Bloomberg puts Bettencourt Meyers' net worth at $42 billion  compared to $37.7 billion for Walton.
 Francoise Bettencourt Meyers  in 2015 . Bertrand Rindoff PetroffâGetty Images
Although  raised a strict Catholic  Bettencourt Meyers  married the grandson of a rabbi killed in Aushwitz â all the more notable given that L'Oreal's founder  EugÃ¨ne Schueller  was a known Nazi sympathizer .
 Bettencourt Meyers  is arguably best known for bringing legal action against  her  mother  after the elder Bettencourt began giving away millions in assets and insurance to society photographer FranÃ§ois-Marie Banier  with whom she'd struck up an unusual friendship.  Bettencourt Meyers  accused Banier of preying on  her  mother's onsetting dementia. When  Bettencourt Meyers  sued   her  mother responded by calling  her  daughter âune emmerdeuseâ (a pain in the ass)  according to Vanity Fair .
The case was ultimately decided in  Bettencourt Meyers'  favor  and  she  and  her  two sons were named guardians of Lilianeâs interests in 2011.
Francoise Bettencourt Meyers

Federal Reserve Chairman Ben Bernanke signaled Thursday that sales of the central bank's holdings in mortgage-backed securities may play a more prominent role in the withdrawal of monetary stimulus than he indicated last month.
 "I anticipate that at some point we will in fact have a gradual sales process " Bernanke said Thursday in testimony to the House Financial Services Committee. In prepared remarks  he avoided repeating a February statement that the Fed won't sell any securities "at least until after policy tightening has gotten under way." Instead  he said Thursday the tool is one way of "applying monetary restraint."
 "We would like to get back to an all-Treasury portfolio within a reasonable amount of time " Bernanke said in response to a question from Rep. Jeb Hensarling  R-Texas. The balance sheet should eventually be reduced to less than $1 trillion  Bernanke told Rep. Ron Paul  R-Texas  who advocates abolishing the Fed.
 Raising the interest rate paid on funds deposited by banks at the Fed  as well as so-called reverse repurchase agreements that temporarily drain cash from the banking system  will still be among the main tools for tightening credit  Bernanke said.
 "The FOMC is not comfortable with holding all of these securities until they mature  as some would be 30 years  and we want to move more quickly than that back to the pre-crisis balance sheet " Bernanke said. The Fed wouldn't sell assets in a "really weak economy " he said.
 At the same time  Bernanke didn't say when the Fed would begin executing its strategy. He said the U.S. economy still needs low interest rates and that the central bank will be ready to tighten credit "at the appropriate time."
 "The economy continues to require the support of accommodative monetary policies " Bernanke said in prepared testimony  repeating parts of a statement to the panel from last month.
 Thursday's hearing  originally scheduled for Feb. 10  was postponed because of a snowstorm. The Fed went ahead and released Bernanke's prepared testimony that day  in part to lay the groundwork for a planned increase in the interest rate the central bank charges for direct loans to banks.
 Responding to questions  Bernanke said the "unemployment situation is very weak " and the housing market is "still quite weak."
Ben Bernanke

Secretary of State Rex Tillerson speaks during a media opportunity with Libyan Prime Minister Fayez al-Sarraj at the State Department in Washington  Friday  Dec. 1  2017. (Carolyn Kaster/Associated Press)
WASHINGTON — President Donald Trump on Friday denied he wants to oust Secretary of State Rex Tillerson  calling reports to that effect “fake news ” as his top diplomat brushed off speculation that he has lost the confidence of the White House.
As  Tillerson  went about  his  normal schedule of diplomatic activities  including two meetings with Trump  the president said his secretary of state is “not leaving.”
“The media has been speculating that I fired  Rex Tillerson  or that  he  would be leaving soon - FAKE NEWS!” Trump tweeted. “He’s not leaving and while we disagree on certain subjects  (I call the final shots) we work well together and America is highly respected again!”
The tweet was Trump’s strongest endorsement of his top diplomat since senior White House officials on Thursday began telling reporters that a plan had been devised to push  Tillerson  out and replace him with CIA chief Mike Pompeo. Immediately after reports of the plan emerged  Trump offered only tepid support for  Tillerson   noting only that he was at the White House for a previously scheduled meeting.
The halfhearted backing amid the swirl of speculation over  Tillerson ’s imminent demise had threatened to impair  his  effectiveness  particularly as  he  prepares for an official trip to Europe next week.
On Friday   Tillerson  attended two meetings at the White House with Trump — one with Libya’s visiting prime minister and then a lunch with the president and Defense Secretary James Mattis. Before those meetings   Tillerson  told reporters at the State Department that speculation  he  was on  his  way out was “laughable.”
Tillerson aides had said the secretary was sanguine and remained comfortable in his role despite the turmoil in Trump’s national security team centering on him. Aides said  Tillerson  would continue to serve until the president asked  him  not to and stressed that such a request had not been made.
Although  Tillerson  looks safe for now   he  will be losing a senior aide and conduit to the public in coming weeks.
R.C. Hammond  who has run State Department strategic communications since  Tillerson  took office  will leave his post in mid-December  officials said.
After a report in October that Tillerson had called the president a “moron ”  Tillerson  appeared before cameras to pledge fealty to his boss. Soon after  Trump publicly challenged his secretary to an IQ match.
When  Tillerson  was tapped for the job late last year  many Trump critics expressed quiet relief that  he ’d picked a sober “adult” who could form a counterweight to the president’s brasher  more impulsive approach  especially on critical matters of war and peace.
Yet divisions on key foreign policy issues emerged quickly  and Trump has repeatedly undermined  Tillerson  by voicing positions at odds with his.
When  Tillerson  in June called on Arab nations to ease their blockade on Qatar  Trump hours later lambasted Qatar for funding terrorism. Trump also deemed diplomacy with North Korea a waste of time  when  Tillerson  was pursuing just that.  Tillerson ’s advice to Trump to stay in the Paris climate deal and certify Iran’s compliance with the nuclear deal was similarly overruled.

Rex Tillerson