Monday, January 6, 2014

Yellen Wins Backing of Senators to Lead Fed

The New York Times
January 6, 2014

Mark Wilson/Getty Images
Janet L. Yellen, attending ceremonies marking the Federal Reserve's centennial in December.

As a Fed official, Ms. Yellen, 67, has been an influential proponent of the Fed’s extraordinary measures to revive the economy, even though interest rates are already close to zero.
But as chairwoman, Ms. Yellen will face the arduous task of overseeing the gradual unwinding of those measures, despite an uncomfortably high unemployment rate of 7 percent and subdued inflation.
During the confirmation process, senators from both sides of the aisle criticized the Fed for not doing enough to aid the economy and help middle-class Americans, and for trying to do too much, thus distorting the markets and risking new bubbles.
“I fear that they are already in way too deep,” said Senator Charles E. Grassley, an Iowa Republican, on the Senate floor, before the confirmation vote. Mr. Grassley questioned how the Fed would pull back on its recent campaign of large-scale asset purchases “without spooking investors,” and whether that might stoke inflation.

No comments:

TERROR CAMPS:The Global Agenda

TERROR CAMPS:The Global Agenda
Watch Full Length Movie Here

Deep State Failing to Take Trump Down

The Trump Economy That Isn't Reported By Main Stream Media

Comey Had Team of "Cleaners to Deal With Agents Not Playing Ball with Clinton Probe

Defense Cuts Harmful to Economy or National Security?

The Obama Catholic Connection

The Globalists Plan for a Coming World Currency

Four Mega Banks Dubbed "The Four Horsemen of U.S. Banking"

New World Order Rising-Documentary

New World Order Rising-Documentary
Watch Here
Find out Why Here...

My Other Passions

My Other Passions
Aikido and Iaido