Volume 2014 - Number 6
February 14, 2014
QE Taper Poised to Continue, New Fed Chief Yellen Signals, Says Its Time for Housing Finance Reform
Federal Reserve Chair Janet Yellen stuck close to the script of her predecessor on the subject of the Feds quantitative easing exit strategy during her first Humphrey-Hawkins appearance before Congress this week, reaffirming that the central banks pull-back from its asset-purchase program is likely to continue, barring a dramatic surprise. Let me emphasize that I expect a great deal of continuity in the Fed Open Market Committees approach to monetary policy, Yellen told the House Financial Services Committee on Tuesday. I served on the committee as we formulated our current policy strategy and I strongly support that strategy, which is designed to fulfill the Federal Reserves statutory mandate of maximum employment and price stability. The new Fed chief reminded...
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