While cautioning that the economy still needs the central bank’s support, Yellen stated that the nation’s economic recovery will be nearing completion within two years.
On Tuesday morning, Federal Reserve Chair Janet Yellen spoke before the House of Representatives in the semiannual Monetary Policy Report. These are her first public comments since assuming the role as head of the U.S. central bank from her predecessor Ben Bernanke on Feb. 3, 2014.
The Fed meeting today and tomorrow will focus on when to taper the $85 billion monthly bond purchasing program known as quantitative easing (QE).
There’s a very dangerous meme making the rounds.
It goes something like this:
The economy is improving, therefore the Fed’s going to taper… and, when it does, the economy is strong enough to endure the withdrawals that will come with it.
Don’t fall for it.
On December 23rd, the Federal Reserve will turn 100 years old.
We can look back on its few successes… but its many failures far outweigh any positives it may have achieved.
What’s at stake now is the Fed’s future. And it looks bleak.
Central banks may have foolish policies, but central bankers are no dummies.
Ever heard of the Taylor Rule?
Not many people have, but the folks at the U.S. Federal Reserve are very familiar with it – and they’d probably prefer that this highly respected guideline for the federal funds rate languish in obscurity.
How do you thank someone who has taken you from crayons to perfume? It isn’t easy, but I’ll try…
U.S. President Barack Obama officially nominated Janet Yellen as the next Federal Reserve Chairman today (Wednesday).
Janet Yellen as the Next Fed Chair: Today (Wednesday), U.S. President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen to replace Ben Bernanke as the head of the U.S. central bank.
