Congrats, Janet Yellen!

January 6th, 2014 at 9:02 pm

She’s the new chairwomen of the Federal Reserve, confirmed by the Senate earlier today by a vote of 56 to 26.  Like many other Fed watchers, I’ve long maintained that she’s an excellent choice for the job (this National Journal piece takes a deep and useful dive into her economic background).

I’ve been particularly impressed by the vigor with which she’s attacked output gaps, both in rhetoric in her public speaking and policy.  Contrary to some Janet-come-lately’s who’ve only come to know her since the great recession and the Fed’s actions therein, her historical record is not that of an inflationary dove.   When price pressures or their expectations warrant action, she will advocate for it.

She’s also the first woman to hold the post.  I wonder what she’s thinking right now…

Print Friendly, PDF & Email

3 comments in reply to "Congrats, Janet Yellen!"

  1. Dave says:

    As a male that knows male mentality, feels male mentality, and lives male mentality, I can say without doubt that having a woman as Fed chair is a HUGE step forward for mankind. Now, the presidency.

  2. Michael W says:

    She’s thinking, I’ll be confirmed when hell freezes over…

    • Jared Bernstein says:

      Wait–you mean there’s a connection between Yellen’s confirmation and the polar vortex??!! I’m sure you’re right!