Career central banker and Fed vice chair Janet Yellen will replace Bernanke as Chairperson of the world most powerful central bank January 2014 onwards. Her nomination became inevitable after Obama’s original choice Summers backed out apparently due to vociferous opposition from some senators.
Yellen ofcourse has tremendous credentials with a Phd from yale and teaching stints at UC as also LSE among other institutions. Career central banker means she has hands on policy making experience Also being Helicopter bens number 2 means she had a ring side view of crises management.
Apparently a dove, markets would keenly watch just when does she withdraws the so called QE program. The first woman chairperson of Fed has her task cut out what with her every word and action being under the microscope and the US economy still not out of the woods yet. Midnightbreakfast would like to wish her All the Best!