Janet Yellen is Favored to Replace Bernanke, Calls for Continuing QE

“Federal Reserve Vice Chair Janet Yellen is the favorite to replace Ben Bernanke, and she’s just delivered a speech in DC titled Challenges Confronting Monetary Policy.

The whole speech is worth reading, but pretty much this is the most important line:

Turning to the potential costs of the Federal Reserve’s asset purchases, there are some that definitely need to be monitored over time. At this stage, I do not see any that would cause me to advocate a curtailment of our purchase program….”

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