Tuesday, February 25, 2014

Janet Yellen asked for ID at G20 meet in Sydney

The head of the US Federal Reserve was stopped on Saturday as she entered a restaurant at the Intercontinental in Sydney, Australia, one of the host hotels for the weekend summit of finance ministers and central bankers.

Wall Street Journal international finance reporter Ian Talley, who was close by, said the central bank chief had to rifle through her purse to produce her credentials.


Thursday, February 20, 2014

Yellen's husband George Akerlof resigns from academic unit

George Akerlof, the husband of the new Federal Reserve Chief Janet Yellen, says he has resigned from an academic advisory board funded by a large Swiss financial institution UBS. 

Mr Akerlof is a Nobel Prize winner in economics, and in a statement says he is stepping down as a member of the advisory board of the UBS International Center of Economics in Society, located at the University of Zurich.

Tuesday, February 18, 2014

Ed Perlmutter calls Bernanke smart and not very exciting

Rep. Ed Perlmutter Democrat from Colorado in a praise described Bernanke as “very smart, very steady, and not very exciting. 
Then he turned to Janet Yellen and says “I have to say, you’re following in his footsteps.” 

Yellen’s response: “Thank you. I appreciate that.” 

Finally the first female central bank head and she is proving that she is equal to any men and can be as boring as any men who preceded her. 

Wednesday, February 12, 2014

Yellen is viewed as pro job growth

Janet Yellen, became the first woman to lead the Fed at age 67. She succeeded Ben Bernanke on Feb 1, who stepped down after helping lead the nation's recovery from the 2008 financial crisis. 

She is generally viewed as more concerned about promoting job growth and less worried about risks such as high inflation than Bernanke. Yellen was previously the Fed's vice chair.

Tuesday, February 11, 2014

Janet Yellen vs Paul Volcker and her biggest challenge

Janet Yellen is generally viewed as ├╝ber-dovish and of the same ilk, but history may force her pursue policies of more maligned hardliners such as Paul Volcker, who was vilified for his efforts to contain inflation by hiking rates. 

By historical terms, the current monetary policy is extremely loose. The start of the ‘taper’ has begun the process of tightening financial conditions,

Tough challenge ahead ?

Yellen’s biggest practical and intellectual challenge will be to unlock the mysteries of the labour market. She and her colleagues at the Federal Reserve need to decipher whether the Americans that are dropping out of the workforce is a permanent or temporary phenomenon and whether they can be ever coaxed back through policies that support economic growth.

Monday, February 10, 2014

Janet Yellen testimony on Tuesday and Thursday

Janet Yellen's first test as chair of the Federal Reserve comes on Tuesday when she faces US lawmakers, some hostile to the central bank, who will want to know how committed she is to winding down the Fed's support for the economy.

Yellen, who succeeded Ben Bernanke last week, will have a chance to set a mostly upbeat tone and point to signs of steady economic progress, despite some recent bumps in the road.

The Fed has embarked on perhaps its most difficult policy shift after five years of ultra-easy money. It has begun scaling back its bond-buying stimulus, but at a measured pace that could frustrate some Republicans who think the program is reckless.

Those concerns will be aired on Tuesday, when Yellen appears before the Republican-controlled House Financial Services Committee to testify on the Fed's semi-annual monetary policy report.

Her testimony will be released at 8.30 am (1330 GMT), although the hearing does not begin until 10 am (1500 GMT). She testifies to the Democrat-controlled Senate Banking Committee on Thursday.

via: http://www.financialexpress.com/news/as-janet-yellen-makes-debut-as-us-federal-reserve-chairman-expect-no-fireworks/1224509

Monday, February 3, 2014

Janet Yellen a strong acomplished woman

When Janet Yellen takes over the reins of the Federal Reserve on Monday, she will become one of the most powerful women in the world — a historic achievement that she has yet to fully embrace.

Her status has been trumpeted by others — she is featured in a Microsoft commercial “celebrating the heroic women of 2013” and heralded by glossy magazine Marie Claire as having “triumphed over the haters” — but Yellen has been reticent about the role that her sex has played in her four-decade career. She has even instructed staff members that her new title be simply “chair,” rather than “chairwoman.”

This is not the first time Yellen has broken through gender barriers in a field notorious for its sharp-elbowed machismo. She was the only woman in her PhD class at Yale University. Two dozen economists earned doctorates from Yale University in 1971, according to the school. Yellen was the only woman.

Yellen’s silence is a reminder that the workplace can still be treacherous terrain for many women. She didn’t speak out when President Obama mistakenly referred to her as “Mr. Yellen,” nor when a few snarked that she wore the same outfit to her confirmation hearing and nomination ceremony.