Meet the New Fed Boss, Same as the Old Boss
Last week, the smart money was focused mostly on the testimony of Federal Reserve Chair nominee Janet Yellen, as she faced questions from the Senate Banking Committee during her confirmation hearing.
Now, to say that Yellen was extremely “dovish” is an understatement. In fact, Yellen seemed to discount any notion that the Fed’s massive quantitative easing, or QE, programs will create asset bubbles, either in the housing market or the equity market.
Yellen actually told lawmakers, “Stock prices have risen pretty robustly… [but] you would not see stock prices in territory that suggest… bubble-like conditions.”
Read more about the predictions for Janet Yellen’s moves as Fed chairman at Eagle Daily Investor.