Janet Yellen’s Nomination and Her Confirmation’s Impact on Monetary Policy

Posted on October 10, 2013 by

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Yesterday Barack Obama nominated Janet Yellen to become Chairwoman of the Board of Governors of the Federal Reserve. Borrowing from Stanly Kubrick’s classic film Dr. Strangelove or: How I Learned to Stop Worrying and Love the Bomb and with apologies to Slim Pickens, this is how I perceive Yellen’s nomination (and subsequent Senate confirmation) will impact monetary policy.

Monetary policy before Yellen’s confirmation:

BernankeStrangelove

 

 

 

 

 

Monetary policy after Yellen’s confirmation:

YellenStrangelove

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