Yellen sworn in as first woman Fed chair

WASHINGTON Mon Feb 3, 2014 10:07am EST

1 of 2. Federal Reserve Board Governor Daniel Tarullo (L) applauds new Federal Reserve Board Chairwoman Janet Yellen after administering the oath of office to Yellen at the Federal Reserve Board in Washington February 3, 2014.

Credit: Reuters/Jim Bourg

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WASHINGTON (Reuters) - Janet Yellen was sworn in Monday to a term as chair of the U.S. central bank, the Federal Reserve said in a statement.

Yellen succeeds Ben Bernanke to become the first woman to head the Fed. Her term as chair ends February 3, 2018.

The oath was administered by Governor Daniel Tarullo, the Fed said.

(Reporting By Margaret Chadbourn; Editing by Chizu Nomiyama)

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Comments (7)
morbas wrote:
I wish to convey congratulatory condolences, volunteering to be in the center of economic spotlights.
Your critics generally do not understand monetary issues as head of monetary value and supply you now are tasked with controlling. I would propose presenting a general view of your perspective, one of monetary supply theory to provide a political prejudgment buffer.

Democracy demands a generalized synergism to be greater than the summation of generalization(s). Society expects all earnestly responsible communication to be crispy brief, there-in lies the rub of the ideological phraseology inbreeding biased ideological discord. The medicine is in comprehensive understanding where-in transparency is found. Will you provide community level generalization?
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The true value of Money is in circulation, a trade commodity of relative economic values (labor and goods). Milton Friedman (monetarism): ‘excessive expansion of the money supply is inherently inflationary, and that monetary authorities should focus solely on maintaining price stability’. Monetary supply should be regulated by supply and value, not mandated by debt. Where do you stand?

Thank you for your attention,
morbas(i)

Feb 03, 2014 10:30am EST  --  Report as abuse
Bighammerman wrote:
I suspect Yellen is why the markets are dropping. No confidence she can handle the job. Is she just an Obama puppet?

Feb 03, 2014 10:47am EST  --  Report as abuse
Another elderly economist throughly grounded in the ideas and policies of Keynes and Hayek for the UK economy eighty years ago instead of the ideas and policies of Stigler and Lindauer for today’s US economy.

What we need are policies based on modern economic analysis and for the US economy and its institutions, not those of eighty years ago for the UK economy and its then-institutions. We could rather quickly put millions of people back to work with a huge increase in the profits and tax collections that underpin the markets – with competent appointees. Relying on these out of date people and their students who have spent their careers analyzing their naive and unwordly theories is like relying on MDs who prescribe leeches as they did eighty years ago to treat high blood pressure instead of modern pharmaceuticals.

Feb 03, 2014 2:11pm EST  --  Report as abuse
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