Janet Yellen takes the helm at the Federal Reserve
Subscriber content preview. or Sign In
[Yellen will focus on job growth]
When the right person is holding the right job at the right moment, that person’s influence is greatly expanded. That is the position in which Janet Yellen, who is expected to be confirmed as the next chair of the Federal Reserve bank in January, now finds herself. If you believe, as many do, that unemployment is the major economic and social concern of our day, then it is no stretch to think Yellen is the most powerful person in the world right now.
Throughout the 2008 financial crisis and the recession and recovery that followed–a period made more painful by Washington gridlock–central banks have taken on the role of stimulators of last resort, propping up markets and the global economy with vast amounts of money in the form of asset buying.