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Janet Yellen follows Ben Bernanke as Fed Chief

Ben Bernanke will step down as Fed Chief in January. President Obama will nominate Janet Yellen.

Oct 9 2013, 7:35am CDT | by

11 Updates
Janet Yellen follows Ben Bernanke as Fed Chief
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Janet Yellen follows Ben Bernanke as Fed Chief

Janet Yellen would be the first woman to head the Federal Reserve Bank. She has been the Vice President of the Fed since 2010. The Senate will still need to confirm Obama's nomination. Bloomberg has a piece about what the Janet Yellen as Chairman of the Federal Reserve Bank would mean for America.

Ben Bernanke has been at the helm of the Fed for the past 8 years. Time flies. It almost feels like yesterday that Alan Greenspan was Chairman of the Fed.

Obama will make the nomination of the announcement this afternoon. 

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Update: 11

U.S. economy rebounds more than forecast in second quarter

Source: Financial Post

Gains in consumer spending and business investment helped the U.S. economy rebound more than forecast in the second quarter following a slump in the prior three months that was smaller than previously estimated. Gross domestic product rose at a 4% annualized rate after shrinking 2.1% from January through March, Commerce Department figures showed today in Washington. The median forecast of 80 economists surveyed by Bloomberg called for a 3% advance. Consumer spending, the biggest par ...
Source: Financial Post   Full article at: Financial Post 1 hour ago


Update: 10

When Harry Met Rand: Political Odd Couple Seeks Mutual Benefit - Bloomberg

Source: Experience Project

Starting late last year when they held a series of meetings to discuss Pauls opposition to Federal Reserve chair nominee Janet Yelle ...
Source: Experience Project   Full article at: Experience Project 18 hours ago, 3:25pm CDT

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Update: 9

Asian stocks higher as earnings season starts

Source: Channel News Asia

HONG KONG: Asian markets extended their gains on Tuesday (29 July) following a mixed lead from Wall Street as investors await the release of key US data later in the week. While trade was quiet, the advances were fuelled by upbeat corporate earnings.Japan's Nikkei was helped by a weakening yen, rising 0.57 percent, or 88.67 points, to 15,618.07. Sydney ended 0.20 percent higher, adding 11.01 points to 5,588.4 and Seoul added 0.64 perce ...
Source: Channel News Asia   Full article at: Channel News Asia 1 day ago, 4:30am CDT

Update: 7

Yellen Like Greenspan Just Does Not ‘Get It’

Source: Ebeling Hefferman Live Trading News

Yellen Like Greenspan Just Does Not ‘Get It’ The newly minted US Fed Chairwoman Janet Yellen has a lot in common with former Chairman Alan Greenspan, and that is not a good thing. Paul Farrell, said Monday that “Sometime after the Great Crash of 2016, Yellen will be testifying before Congress, j ...
Source: Ebeling Hefferman Live Trading News   Full article at: Ebeling Hefferman Live Trading News 1 day ago, 8:12pm CDT

Update: 6

Japan Unleashed Abenomics A Year And A Half Ago — Here's How It's Going

Source: The Business Insider

Japan is now the world leader in inflation. At least among the world's major economies. This chart, tweeted by Tom Orlik of Bloomberg, shows inflation for the U.S., Eurozone, China, and Japan. As you can see, Japan is the only major economy that has inflation running meaningfully above 2%, while Europe continues to flirt with deflation. Japan's inflation, however, has not come without some ex ...
Source: The Business Insider   Full article at: The Business Insider 1 day ago, 7:25pm CDT

Update: 5

Biotech And Internet Stocks Are Nowhere Near Their Insane Levels Of 1999

Source: Business Insider

There's been a lot of excitement surrounding the young, high-growth, highly-speculative biotech and internet stocks. Just last week, we witnessed Puma Biotechnology surge 300% in an instant on news of a breast cancer drug breakthrough. Gilead Sciences stunned investors when it revealed it had sold a whopping $3.5 billion worth of its hepatitis-C "wonder drug" in one quarter. And just tod ...
Source: Business Insider   Full article at: Business Insider 1 day ago, 9:57am CDT

Update: 4

Asset bubbles could deflate global recovery: analysts

Source: Channel News Asia

PARIS: In a world still struggling to shake off the worst financial crisis for a generation, many economists are worrying that new asset bubbles are already threatening to derail the tepid global recovery.Concern has been rising that investors are paying too much for securities in a search for good returns when interest rates are hovering near record lows, creating the bubble conditions for a new market crash. Economists are worried that investors a ...
Source: Channel News Asia   Full article at: Channel News Asia 3 days ago, 1:13am CDT

Update: 3

Wall St week ahead: Even modest GDP bounce may support market

Source: Asia One

NEW YORK - Even if data next week shows a mediocre rebound in US economic growth, that might be enough to keep the stock market aloft at record highs and the Federal Reserve steadfast in its winding down of stimulus through bond purchases.US gross domestic product for the second quarter, due to be released Wednesday, is forecast to have grown 3.2 per cent. Growth had shrunk 2.9 per cent in the first qua ...
Source: Asia One   Full article at: Asia One 4 days ago, 2:38am CDT

Update: 2

Midyear FX Outlook: The Mighty Buck’s Return Is Nigh

Source: Forex News

The question on every investor’s lips is, “when will the Fed raise interest rates?” Global currency markets continue to flounder in an environment of low volatility and volume despite being punctuated by periods of geopolitically induced risk events. The ongoing Russia-Ukraine conflict remains a significant concern that was heightened by a Malaysian jetliner being was shot down by a missile in Ukrainian airspace in mid-July, as does Israel’s mi ...
Source: Forex News   Full article at: Forex News 5 days ago, 5:23am CDT

Update: 1

There Is No Such Thing As A Truly Passive Investor

Source: Business Insider

FA Insights is a daily newsletter from Business Insider that delivers the top news and commentary for financial advisors. There Is No Such Thing As A Truly Passive Investor (AllianceBernstein Blog) Even investors that take a 100% passive approach are making active decisions, writes Patrick Rudden at AllianceBernstein Blog. "Those who go passive know why they’re doing it," writes Rudden. "Instead of paying active managers to try to select securities to ...
Source: Business Insider   Full article at: Business Insider 5 days ago, 5:04pm CDT

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<a href="/latest_stories/all/all/2" rel="author">Luigi Lugmayr</a>
Luigi Lugmayr (Google) is the founding chief Editor of I4U News and brings over 15 years experience in the technology field to the ever evolving and exciting world of gadgets. He started I4U News back in 2000 and evolved it into vibrant technology magazine.
Luigi can be contacted directly at




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