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Sep 30, 2013
Sep 30, 2013
via Counterparties

Meet the next Fed chair

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Janet Yellen may get the nomination to lead the Federal Reserve next week, Goldman Sachs predicts. Joseph Stiglitz writes that she was one of his best ever students when she was at Yale, adding that “she is an economist of great intellect, with a strong ability to forge consensus”. Robin Harding sums up her most important contribution to the Fed: her “conviction that the central bank can and should try to stabilise the real economy – in particular, unemployment – as well as just inflation.”

Sep 30, 2013
via Counterparties

A complete guide to the arguments over the next Fed chair

Rumors are swirling about President Obama’s impending decision of who will be the next chair of the Federal Reserve. The consensus is that the race is down to two candidates: former Treasury Secretary Larry Summers and current Fed vice chair Janet Yellen (three if you count former Fed vice chairman Donald Kohn, who Annie Lowrey says is the dark horse in the race). The following are some of the most compelling arguments from around the web for and against both candidates:

Pro-Yellen

“With the exception of certain commentators who get paid ostensibly to act like inveterate morons, nobody has doubted Janet Yellen’s record of analytical prescience in the past decade”. -Cardiff Garcia, FT Alphaville

Sep 30, 2013