This is an excellent and informative article by Robin Harding and Richard McGregor in the FT. It’s HIGHLY RECOMMENDED, as a read in my view.
via Janet Yellen: The cheery economist tipped to be the first lady at the Fed – FT.com.
Personally, I think that Janet Yellen will be a popular and safe choice for the next chair of the Fed.
BUT, I wonder how long the popularity will last?
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Janet Yellen’s optimism and ability is not in doubt but American’s are not the world’s most patient people and unless the US economy transforms itself and overall living standards for those ordinary people (Joe Sixpack), her popularity will not last and she will be blamed along with Wall Street, for their ills.
As President Obama’s second choice she has the advantage of not being tainted as “Obama’s choice by those who dislike him or see him as their nemesis/political opponent.
John, I tend to agree with you here