7 Surprising Facts about Janet Yellen
2021-05-14 15:00:00
Richard Snow,
Markets Writer
Janet Yellen, probably the most qualified Fed Chair in history, has been voted the most influential person in the world, married a Nobel Prize winning economist and has an impressive stamp collection, too. She is a leader among women in finance blazing new trails.
Below are seven surprising facts about the US Treasury Secretary, Janet Yellen.
1. Most Qualified Federal Reserve Chairperson in its History
Janet Yellen has received numerous accolades and achievements, both academic and as a result of positions she held over her career, that we could not possibly do them justice here. However, some of her more notable achievements are listed below:
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Democrats seem convinced voters will reward Biden’s giant spending blitz, and especially those $1,400 checks included in the recent stimulus bill, by allowing them to keep the House and the Senate.
But for millions of Americans, those checks are already in the rear-view mirror, while the reality of rising grocery and gasoline prices is the speedbump straight ahead. Inflation could well become the kitchen-table issue of the midterm elections. And Biden may take the blame.
Yellen, realizing that her comments created a squall on Wall Street, joined several brainiacs at the Federal Reserve in reassuring us that inflation was not a serious issue. Yes, prices may go higher for a bit, she argued, but, not to worry, the Fed will step in if necessary.
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5/5/2021 5:04:24 AM GMT
Treasury Secretary (and former Federal Reserve Chairperson) Janet Yellen perhaps wished she had used less Extreme words last night. Ms Yellen stated that interest rates may have to rise to prevent the economy from overheating. However, she couched that by saying the additional government spending was small relative to the size of the economy.
The retreat continued later in the day, with Ms Yellen saying a rise in interest rates was not something she was predicting or anticipating, but the damage was done. Ms Yellen may have been saying to the markets, I love you, but they replied, not the words I want to hear from you. The tech-heavy Nasdaq slumped nearly 2.0%; the S&P 500 fell 0.80%, with only the Dow Jones catching some cyclical rotation and keeping its head above water. The US Dollar spiked higher, and gold fell, but interestingly we can see where all the equity money got parked as US yields actually retreated.
Asia equities mixed after US tech-rout
May 5, 2021SharePrint
Yellen remarks spook Wall Street
US Treasury Secretary (and former Federal Reserve Chairperson) Janet Yellen likely wants to take a mulligan after her comments last night about interest rates. Ms Yellen stated that interest rates may have to rise to prevent the economy from overheating. However, she couched that by saying the additional government spending was small relative to the size of the economy. The equity markets reacted with sharp losses. The retreat continued later in the day, with Ms Yellen saying a rise in interest rates was not something she was predicting or anticipating, but the damage was already done.