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| She said goodbye |
Janet Yellen time is over. She just leaved her post as the chair of the Federal Reserve Board. Her last meeting was this past January 31st.
Mrs. Yellen stepped down from the Federal Reserve on February 3 making way for her successor, Jerome Powell, whom sworn in for his four-year term, as first appointed by Donald Trump as Fed chairman.
As an economic policy maker, Janet Louise Yellen was considered as a dove but she worked like a hawk during her fourteen years in the Federal Reserve Bank, the last four as a chair.
She was the first woman leading a hundred-and-five- years history institution, and in a "Sunday Morning" TV show interview she accepted that was disappointed because haven't had a second term as a chair, like all men that preceded her.
During her term, Yellen started to rescinded the monetary stimulus that she designed with her predecesor, Ben Bernanke, looking for economic recovery after 2008 financial crisis.
As her final signature on the Board, on January 31, 2018, Mrs. Yellen stated that the Federal Open Market Committee left interest rates unchanged and keep it between 1,25%-1,50%.
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| New challenges |
Since February the fifth, time started for Jerome Hayden Powell, “Jay”, whom is not that new in the Federal Bank.
His name was easily approved by the Congress and that move let to Mr. President Trump change a leader without change the monetary policy, at least not for now.
Mr. Powell ought to make smart and wise policy decisions in order to prevent overheating the economy, without threatening expansion and productivity.
His public debut as Chairman of the Board of Governors of the Federal Reserve System is expected for markets actors on March 20.
He received an economy with inflation index lower than 2%, a weak dollar, but gas prices are raising, and he needs to contain the inflation, avoiding a new recession and moreover keeps Congress away from his independency. This last one item is really his more defiant job as a Fed Chairman.
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