Janet Yellen Gets the Nod for Fed Chief

by Marilou Moursund on October 9, 2013

in deficit spending,equity market,Fed policy,Fiscal Policy,interest rates

The President will nominate Janet Yellen to take over as the head of the Federal Reserve from Ben Bernanke. Futures rallied on the news as Ms. Yellen is viewed as being flagyl dosage very dovish on monetary policy, and the market is hooked on quantitative easing. The rally may be short-lived however as the government is lexapro addictive shutdown continues. Both the President and Speaker Boehner held dueling press conferences yesterday, and there doesn’t appear to be any movement towards a compromise. This

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impasse is starting to have an impact on sentiment and the economy. From Ed Yardeni’s Morning Briefing: Gallup polls show dropping confidence. Yesterday, Gallup’s website reported: “Americans’ confidence in the economy has deteriorated more in the past week during the partial government shutdown than in any week since Lehman Brothers collapsed on Sept. 15, 2008, which

triggered a global economic crisis. Gallup’s nexium otc price Economic Confidence Index tumbled 12 points generic celebrex to -34 last week, the second-largest weekly decline since Gallup began tracking economic confidence daily in January 2008.” Gallup’s Economic Confidence Index is down19 points since the middle of September. It is at viagra7-pharmacycanada the lowest level since late December 2011. It is significantly below this year’s -3 peak in early June. In the summer of 2011, it fell to -54 during Washington’s previous debt ceiling crisis. It fell to -65 during the Lehman crisis of 2008. Currently, 67% of Americans say the economy is getting worse, the highest such percentage since early December 2011.

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