How Will Yellen Be Judged in Years Ahead?

September 18, 2017 Share Print 0

Janet Yellen, the first woman to chair the Federal Reserve, may be entering the final stretch of a tenure defined by her deft navigation of the U.S. economy and the first steps toward exiting crisis-era policies that kept interest rates near zero for the better part of a decade.President Donald Trump said in July that Yellen is “absolutely” in the running to remain at the helm of the U.S. central bank when her term expires in February. That doesn’t mean he’ll pick her, or that she even wants a second term. Yellen has declined to comment on the topic. The White House is also considering other candidates.Whatever happens, the Yellen Fed has already had a far-reaching impact. Unemployment has fallen to around a 16-year low on her watch without sparking the runaway inflation that some feared. In fact, one of the most serious criticisms of her tenure may be that inflation has failed to rise as expected, and remains well below the Fed’s 2 percent target.

Source: Yellen’s Legacy Burnished by Job Market Hunch, Crisis Policy Exit – Bloomberg

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Craig Erlam

Senior Market Analyst, UK & EMEA at OANDA

Based in London, Craig Erlam joined OANDA in 2015 as a market analyst. With many years of experience as a financial market analyst and trader, he focuses on both fundamental and technical analysis while producing macroeconomic commentary. His views have been published in the Financial Times, Reuters, The Telegraph and the International Business Times, and he also appears as a regular guest commentator on the BBC, Bloomberg TV, FOX Business and SKY News. Craig holds a full membership to the Society of Technical Analysts and is recognised as a Certified Financial Technician by the International Federation of Technical Analysts.