Several facts, for example, are so far no vice president of the Federal Reserve besnetwork has been

Last week, US President besnetwork Barack Obama appointed Janet Yellen new president of the Federal Reserve (Fed) United States (USA). Yellen, to hold until January 31, Vice President of the Council of the Fed, Ben Bernanke when you leave your seat today Reserve chairman. In his nomination was approved by the Senate, which stalled before the end of Directors ("shutdown"), which showed the harsh confrontation between Republicans and Democrats, Janet Yellen would be the first woman to chair the Federal besnetwork Reserve. The future president of the Fed holds a doctorate in Economics from Yale University and a teaching career at the University of California, Berkeley. He also presided over a period of two years the Council of Economic Advisers President Bill Clinton [1].
Obama opened a few months ago through full successors, including always stressed Lawrence Summers, former Secretary of the Treasury with Clinton and former economic adviser to the Obama himself, who never hid that it was his favorite name. Although it is not yet clear water, Summers pulled reluctance to wake up before his nomination among some Democrats. besnetwork
The hitherto Vice Fed is known for its inclination to maintain low interest rates as a way to stimulate the economy and promote job growth. Some experts now suggest that the trend will probably continue the policies of Bernanke and therefore low interest rates. besnetwork According besnetwork to his colleagues, Ms. Yellen 67, has a reputation for demanding and worried about the details, and serious and respectful of opposing views. It was also preferred by more than 200 economists besnetwork who signed another letter supporting him, claiming that "listens multiple viewpoints and is not beholden to any interest group or industry." [2]. Also receives the applause of the market, since it is understood that maintain a line of continuity with respect to Bernanke. Not expected, therefore, that separates the current president's speech, the plan is to begin to moderate stimulus later this year and to remove besnetwork them completely in mid 2014 as expected.
Several facts, for example, are so far no vice president of the Federal Reserve besnetwork has been promoted to the position of president, that means Yellen break with tradition. Another funny thing is that was one of the few officials in the Fed system to warn about the risks of subprime mortgages in 2007, before the outbreak of the crisis [3]. In addition, last summer showed favor to ask banks to raise further capital requirements, which Obama also highly valued.
"The style of rough and intimidating Yellen is probably more suited to the era of [TV series]" Mad Men "for a modern office environment," said the Wall Street Journal Dick Anderson, former CEO operations of the Fed, who had disputes with Yellen on a plan that he proposed to cut spending by regional Fed banks "His style, he added, contrasts markedly with Bernanke and would not be appropriate to Fed, "says Anderson in" Wall Street Journal besnetwork ". [4]
As mentioned, from 2014 it will see who is really Janet Yellen, after the ratification, of course, the US Senate. If finally take the reins of the Federal besnetwork Rsserva next year, the first issue that you raise will be the start of the withdrawal of stimuli to the US economy.
- EDITORIAL (12 October 2013). Dove Ascendant besnetwork ( http://www.economist.com/news/finance-and-economics/21587798-janet-yellen-will-stick-her-predecessors-expansionary-policies-dove-ascendant ). The Economist
- Ballesté Wilfred (29 January 2010). The US Senate ratifies Ben Bernanke as chairman of the Federal Reserve ( http://ekonomicus.com/2010/01/29/el-senat-deeuu-ratifica-a-ben-bernanke-com-a-president-de-la-reserva-federal/ ). eKonomicus
- Ballesté Wilfred (11 October 2011). The case of Alan Greenspan and the monetary value of words ( http://emprenem.ara.cat/economiesdesordenades/2011/10/11/el-maleti-d%E2%80%99alan-greenspan-i-el-valor-monetari-d%E2%80%99unes-paraules/ ). Economies disordered (ARA Journal)
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