"Yellen will have to continue the Fed's easy money policies. She has no choice. The economy is getting no better, and a consensus is forming that stopping the stimulus could make things suddenly worse."
Janet Yellen has finally been nominated as the first female chair of the Federal Reserve. Now she can rest easy, because she won't have much to do for a few years.
The big question about Yellen's future at the Fed is whether she will continue what Wall Street and Washington like to call "easy money" policies. That means pushing the cruise control button on the $85bn-a-month stimulus program known as quantitative easing that was spearheaded by the current Fed chairman, Ben Bernanke. Yellen's detractors believed she would keep pushing quantitative easing, while they expected her rival for the job, Larry Summers, to hit the brakes and exit the program as soon as possible.