Fri, Aug 1, 2014
A A A
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. Opalesque Exclusive: Kyria Capital Management bets on women hedge fund managers[more]

    Bailey McCann, Opalesque New York: As hedge fund assets top $3 trillion, and long/short strategies get more crowded than ever, with every manager hunting for even the tiniest bit of alpha, a new firm has emerged that claims its own edge – women. A recent Rothstein Kass study showed women-owned a

  2. Hedge fund manager Winton Capital making headway with long-only strategy[more]

    From PIonline.com: North American investors are helping Winton Capital Management Ltd. make progress — albeit slowly — toward its founder's goal of becoming a $100 billion company. The firm's ticket to quadrupling its assets under management is unlikely to be one of its scientifically designed manag

  3. Opalesque Roundtable: Success in hedge fund marketing not linked to performance, but investor appetite[more]

    Komfie Manalo, Opalesque Asia: Success in marketing a fund is not linked to the performance, but to investor appetite, to the way you can market the fund, and to how much time you can spend to raise assets, said Antoine Rolland, the CEO of incubator and seeding firm

  4. Opalesque Radio: Now is a good time to buy protection cheaply in the options market[more]

    Benedicte Gravrand, Opalesque Geneva: Investors are showing an increased interest in risk parity funds and strategies, Opalesque reported last year. Risk parity strategies have the

  5. The Big Picture: Charlemagne Capital smoothes risk out of frontier market investing with portfolio approach[more]

    Benedicte Gravrand, Opalesque Geneva: Opalesque recently talked to one of the portfolio managers of the Oaks funds, which are emerging and frontier market hedge funds focusing on equity long/short with a directional approach. They are run by