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
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