Newsroom & Financials

Outlook: New Leadership at the Federal Reserve

Posted 1/31/2014

Janet Yellen is about to be sworn in as the 15th Chair of the Board of Governors of the Federal Reserve System. While she is not stepping into the center of the economic firestorm that two-term Fed Chair Ben Bernanke experienced, she is inheriting an economy with still-uncertain levels of growth, high - but declining - unemployment, and a lower-than-normal rate of inflation. And while many economists expect the recovery to continue, Yellen will have the delicate task of maintaining growth while reducing and eventually eliminating the Fed's unconventional bond-buying program - dubbed "quantitative easing" - and unwinding what has become a massive balance sheet.

Read more in January's OUTLOOK.

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