Mon, Oct 5, 2015
Welcome Guest
Free Trial RSS
Get FREE trial access to our award winning publications
Alternative Market Briefing

Janet Yellen confirmed as new Fed chief

Tuesday, January 07, 2014

Bailey McCann, Opalesque New York:

After yet another will they/won't they battle in the Senate, Janet Yellen was confirmed to take over the Federal Reserve from departing chief Ben Bernanke. Bernanke is slated to move out of his role by January 31, 2014. He began transitioning last month in anticipation of today's confirmation vote. The vote itself managed to go forward despite rumblings from some Republican Senators who suggested they would vote no.

Now that Ms. Yellen has been confirmed she'll be tasked with overseeing the first phase of Fed tapering, and likely continued efforts to wind down the Fed's asset purchasing program over the next year. Any efforts will have to be done cautiously in order to avoid damaging the nascent housing recovery and shaky US economy. The move to put Yellen in the seat has been seen by some as a tacit continuation of the accommodative stance the Fed is taking in an effort to get the economy back on its feet.

From day one, Ms. Yellen's tenure at the Federal Reserve will be an historic one. She is the first female appointed to the post in the 100-year history of the Fed. The final vote tally was 56-26, with 11 Republicans breaking rank to vote for Ms. Yellen.

In a statement, President Obama said he is "confident that Janet will stand up for American workers, protect consumers, foster the stability of our financial system, and help keep our economy growing for years to come."


To view our full article Click here

Today's Exclusives Today's Other Voices More Exclusives
Previous Opalesque Exclusives                                  
More Other Voices
Previous Other Voices                                               
Access Alternative Market Briefing

  • Top Forwarded
  • Top Tracked
  • Top Searched
  1. Performance - Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September, Risky strategy sinks small hedge fund[more]

    Hedge fund moguls Einhorn, Loeb, Rosenstein lose money in September From Billionaire stock pickers David Einhorn, Daniel Loeb and Barry Rosenstein on Wednesday told their wealthy investors they lost money in September as market turmoil inflicted more pain on some of America'

  2. Opalesque Exclusive: IRAs represent billions of untapped capital for hedge funds[more]

    Benedicte Gravrand, Opalesque Geneva: Retirement accounts might not be the first source that comes to mind for those looking to raise funds, but they may represent billions of untapped capital. Unlike traditional retirement accounts,

  3. Opalesque TV: One way to access market hedge funds in the EU under the AIFMD radar[more]

    Benedicte Gravrand, Opalesque Geneva: While the Cayman Islands, the US and Hong Kong await the pan-European marketing passport to be extended to alternative investment fund

  4. Investing - U.S. biotech bloodbath hits hedge funds but some bargains emerge, Computer-driven hedge funds betting on further stock selloff[more]

    U.S. biotech bloodbath hits hedge funds but some bargains emerge From A seven-day selloff of U.S. biotechnology stocks has hit sector investors - especially hedge funds - hard. But some managers say it was overdone and are already eyeing bargains such as Gilead Sciences Inc

  5. Vilas’ equity long bias hedge fund generates market-beating results[more]

    Komfie Manalo, Opalesque Asia: The Vilas Fund, an equity long bias fund managed by Chicago, Illinois-based Vilas Capital Management, posted five-year annualized returns, net of fees, of 23.47% vs. 15.87% for the S&P 500 Index, including divid