01-31-2014, 12:39 PM
(10-09-2013, 08:00 PM)Adub Wrote:(06-19-2013, 11:24 AM)Cynical Ninja Wrote: Care to expand a little for the uninitiated?
He's a Jew.
His very savvy Jewish successor, Ms. Yellen, officially takes over for Bernanke on Monday, Feb. 3rd.
From today's Economic Times report:
Federal Reserve policy makers trimmed bond buying for a second straight meeting, uniting behind a strategy of gradual withdrawal from Ben S Bernanke's unprecedented eaeconomic growth that has "picked up in recent quarters".
It was the first meeting without a dissent since June 2011 showing the tapering strategy has brought together policy makers, who are concerned that the Fed's record $4.1 trillion balance sheet risks causing asset price bubbles, with those who, like Vice Chairman Yellen, say more needs to be done to reduce unemployment.
"As we transition from Bernanke to Yellen, she's in a pretty good place in terms of holding together the centre of the committee," said Stephen Stanley, chief economist for Pierpont Securities in Connecticut.
"It should be relatively easy to hold together a pretty wide consensus." The Fed left unchanged its statement that it will probably hold its target interest rate near zero "well past the time" that unemployment falls below 6.5 per cent, "especially if projected inflation" remains below the committee's longer-run goal of 2 per cent.