The Janet Yellen era begins
Last edited Mon Feb 3, 2014, 07:30 PM - Edit history (1)
Shortly after she takes over as chair of the Federal Reserve on Monday, Yellen will begin intense preparations for a grilling by ornery members of Congress. Two dozen Fed staffers will crowd into a chamber off the central bank’s main boardroom in Washington and begin firing questions at her on every conceivable topic, from economic policy to bank regulation to international affairs. Yellen’s interrogators will mimic the style of lawmakers, usually more interested in making speeches than posing true queries, just to see how she responds.
“It can really get quite intense,” said one person familiar with the process, which will mirror how Yellen prepared for her confirmation hearings. The sessions could last several hours a day and stretch over multiple days.
Immediately after she wraps up her first post-confirmation appearances before Congress — now scheduled for Feb. 11 and 13 — Yellen will hunker down with briefing books to get ready to field questions from a ravenous Fed press corps eager to trick the newly installed head of the most powerful financial institution on Earth into a market-melting gaffe.
Yellen is stepping onto an enormous stage at a critical time. The first female chair in the Fed’s history — who recently joked that she is Luke Skywalker to outgoing Chairman Ben Bernanke’s Obi-Wan Kenobi — faces a trio of immense challenges.
Read more: http://www.politico.com/story/2014/02/janet-yellen-takes-over-the-fed-and-takes-on-politics-103008.html
= new reply since forum marked as read
