Yesterday Barack Obama nominated Janet Yellen to become Chairwoman of the Board of Governors of the Federal Reserve. Borrowing from Stanly Kubrick’s classic film Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb and with apologies to Slim Pickens, this is how I perceive Yellen’s nomination (and subsequent Senate confirmation) will impact monetary policy.
Monetary policy before Yellen’s confirmation:
Monetary policy after Yellen’s confirmation:
Bert Wheeler
Jeff Haymond
Marc Clauson
Mark Caleb Smith
Tom Mach