Larry Summers and Janet Yellen would both lead the Fed well. But Ms Yellen is the safer choice BARACK OBAMA will soon make one of the biggest economic decisions of his presidency: who should replace Ben Bernanke as chairman of the Federal Reserve. Since America’s monetary decisions reverberate far beyond its borders, the world has an interest in having the best person in that job.
Federal Reserve Vice Chairman Janet Yellen is the most qualified and most likely candidate to run the central bank, according to the majority of private economists in a Bloomberg News survey that showed Lawrence Summers trailing by wide margins in both categories.
Federal Reserve Chair Janet Yellen said the central bank has a “continuing commitment” to support the recovery even as policy makers now see the economy reaching full employment by late 2016.
In a speech that outlined the disciplined policy framework she uses, Yellen told investors to pay attention to shortfalls in both inflation and the jobless rate for signals on the Federal Open Market Committee’s decisions on the policy rate.
Inquiring minds are investigating three articles from today, stating opinions of three different Fed governors. Boston Fed President Against TaperingBoston Fed President Eric Rosengren says Rapid QE withdrawal could permanently harm U.S. workers
WASHINGTON (Reuters) - The most revealing thing about Janet Yellen's widely praised Senate confirmation hearing performance last week might not have been what she said, but what she didn't say - and how she didn't say it.
Federal Reserve Chairman Janet Yellen said more work is needed to restore the labour market to health and pledged to maintain her predecessor’s policies to ensure a return to full employment and stable prices.
While Janet Yellen's testimony will be uneventful, with her toeing the party line, and the fluff Q&A largely priced in - although everyone is eagerly looking forward to the Maxine Waters grilling - far more interesting in today's Monetary Policy and State of the Economy hearing, will be the Part 2, where various experts (full list here), mostly hawks as it would appear, will provide their rebuttals to Yellen's views.
(WASHINGTON) — Renewed questions about the economy’s health and uncertainty surrounding the government’s budget fight will likely lead the Federal Reserve on Wednesday to maintain the pace of the stimulus it’s supplying to the economy. That expectation marks a reversal from just six weeks ago, when almost everyone expected the Fed to start trimming its $85 billion in monthly bond purchases. The bond buying is intended to keep long-term interest rates low to help the economy rebound from the Great Recession.