Washington Post (January 4, 2014)
On January 31, Ben Bernanke’s term as chairman of the Federal Reserve will come to an end as Janet Yellen’s begins. “Americans have been uneasy about central banks since the days of Thomas Jefferson and Jackson. But looking at Bernanke’s record, even the skeptics should grant that the country was lucky to have him when the crisis hit.” Bernanke “may go down as the most radical innovator in the Fed’s history — and one of the most successful.”
Tags: Andrew Jackson, Ben Bernanke, Central banks, Chairman, Crisis, Fed, Innovator, Janet Yellen, Radical, Skeptics, Success, Thomas Jefferson, U.S.
Euromoney (November Issue)
“Janet Yellen is eminently well qualified to lead the Federal Reserve. But investors should not assume that continuation of policy as normal comes without risk. Her dovish stance on inflation is worth noting and hedging against.”
Tags: Dovish, Federal Reserve, Hedging, Inflation, Investors, Janet Yellen, Policy, Qualified, Risk
Washington Post (September 16)
Acknowledging he was tainted, Lawrence Summers withdrew from consideration for appointment as Federal Reserve chairman. Global markets surged as the dovish Janet Yellen now looks better positioned to win the influential post. “Shed no tears” for Larry. “Though brilliant, the Harvard economist has nonetheless ticked off too many people in his long and brash career, not only on policy grounds but also because of his famously caustic personality. Note to future careerists: Niceness counts.”
Tags: Career, Chairman, Economist, Federal Reserve, Global markets, Harvard, Janet Yellen, Lawrence Summers, Niceness, Personality, Policy
New York Times (July 30)
President Obama will need to appoint a replacement later this year to replace Federal Reserve Chairman Ben Bernanke when his term expires in January 2014. The incoming Chairman will be challenged to delicately wind down the Fed’s massive quantitative easing measures. Camps of support are already arising around the two front runners Lawrence Summers and Janet Yellen. The New York Times comes down firmly in the former’s support, writing “no one else can match Janet Yellen’s combination of academic credentials and policy-making experience. And no one ever confirmed to the job has come to it with as deep a grounding in both the theory and practice of monetary and regulatory policy as Ms. Yellen would bring.” Should she be confirmed, she would also become the first woman to head the Fed.President Obama will need to appoint a replacement later this year to replace Federal Reserve Chairman Ben Bernanke when his term expires in January 2014. The incoming Chairman will be challenged to delicately wind down the Fed’s massive quantitative easing measures. Camps of support are already arising around the two front runners Lawrence Summers and Janet Yellen. The New York Times comes down firmly in the former’s support, writing “no one else can match Janet Yellen’s combination of academic credentials and policy-making experience. And no one ever confirmed to the job has come to it with as deep a grounding in both the theory and practice of monetary and regulatory policy as Ms. Yellen would bring.” Should she be confirmed, she would also become the first woman to head the Fed.
Tags: Appointment, Ben Bernanke, Chairman, Federal Reserve, Janet Yellen, Lawrence Summers, Obama, Quantitative easing, Replacement, U.S.