Ambrose Evans-Pritchard put it best in this commentary at the Telegraph on Fed Vice Chair Janet Yellen’s imminent nomination to succeed Fed Chief Ben Bernanke at the central bank:
Rejoice: the Yellen Fed will print money forever to create jobs
We now know where we stand. Janet Yellen is to take over the US Federal Reserve, the world’s monetary hegemon, the master of all our lives.
The Fed will be looser for longer. The FOMC will continue to print money until the US economy creates enough jobs to reignite wage pressures and inflation, regardless of asset bubbles, or collateral damage along the way.
This leaves me deeply uneasy.
Here she is – get used to seeing the new face of the Federal Reserve: