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Janet Yellen is considered as the most powerful lady in the whole world.As a leadrer of American Central Bank, the Federal Reserve , she has tremendous influence over the world financial market . Interpretation from her mouth can bring about gain and loss in the investors business.Yellen has continued the policies of her predecessor, Ben Bernanke. But how she handled the first rate hike and its following actually generate her repute. Senior economist Gus Faucher, once said that getting into raising rates will help her make or break the tenure. According to her friends , she is always cool , calm , well aware about her decisions and very composed even in the time of ambiguity.She loves to cook food. Some of her friends from her High school said that she was intelligent at that time also that we knew that she will get to a certain position in her life CITATION Pat15 l 1033 (Gillespie, 2015).
According to The Guardian , the last decision of raising the interest rate before leaving the office will boost and stabilize the economy and will help in economic growth CITATION Rus17 l 1033 (Rushe, 2017).Member of the committee praises her hard work by sauing that, her tenure was a very successful one which increased the interest rates and stabilized economy andalso stated as unqualified success. Carolyn Meloney, praised Yellen as one of the most successful Fed chairmen in historyCITATION BIN17 l 1033 (APPELBAUM, 2017). Princeton economist and former Fed Vice Chairman Alan Blinder said that the lady most remembered to drive the economy in upward position .once a critic Peter Schiff said that she has handed over the wand to Powell which is not more than a dynamite , nobody can assess when the dynamite might explode. One of the founder of investment bank Christopher Whalen commented about her reputation in the market as very powerful , strong and considered as a very nice lady. Robert Shiller, a Nobel laureate Yale economist and co-author of two books with Yellen’s husband, George Akerlof. Considered her as one of the very gorgeous , dignified woman having good political senseCITATION Jef18 l 1033 (Cox, 2018),
She stepped down to give way to her successor Jerome Powell, during her reign, the central bank started many programs that boost the balance sheet to $4.5 trillion. Stocks increased rapidly abpve the usual level but economic growth was below the expected standard. She formulated such programs and policies that helped the economy and financial system to revert to its original position. She is respected every where . Many Critics still feels that Fed sold out America by printing and injecting more money into the economy just to boost Wall Street which would result in the stagnant growth ( Cox, 2018).
Despite all her success in her office and for the country for four years Trump replaced her with Jerome Powell as he preferred to have somebody who could recontrol banks and would keep interest rate low. Yellen was the lady who supported financial regulation such as the Dodd-Frank wall Street Reform Act .She continues to have plans to raise the Fed fund rate CITATION Kim18 l 1033 (Amadeo, 2018) . Trump had been using his powers to roll back all the personnel from Obama regime. Trump is uncomfortable with professional women. Trump being a president can do anything without thinking its consequences over the economy CITATION Car17 l 1033 (Baum, 2017).
Whatever Yellen has done is much appreciated not only in her country but all over the world. She performed at the time when the country really needed that . Obama specifically stated her as one of the best policy maker and economist but Trump expressed displeasure the way Fed office was being run due to which he replaced her CITATION Sha17 l 1033 (Rexaline, 2017)References
BIBLIOGRAPHY l 1033 Amadeo, K. ( 2018, Feb 03). Federal Reserve Chair Janet Yellen. Retrieved from The Balance: https://www.thebalance.com/janet-yellen-3305503
APPELBAUM, B. ( 2017, NOV 29). Yellen Says Economic Expansion Has Gained Strength. Retrieved from NYTIMES: https://www.nytimes.com/2017/11/29/business/economy/yellen-economy.html
Baum, C. ( 2017, Oct 11). 5 reasons Trump will tell Yellen: ‘You’re fired! (and 5 reasons he won’t). Retrieved from MarketWatch : https://www.marketwatch.com/story/5-reasons-trump-will-tell-yellen-youre-fired-and-5-reasons-he-wont-2017-10-11
Burch, A. (2018, Feb 14). Florida School Shooting: ‘No Words’ as 17 Die in a Barrage of Bullets. Retrieved Feb 15, 2018, from NY Times: https://www.nytimes.com/2018/02/14/us/parkland-school-shooting.html?&hp&action=click&pgtype=Homepage&clickSource=story-heading&module=a-lede-package-region®ion=top-news&WT.nav=top-news
Cox, J. ( 2018, feb 2). Janet Yellen exits the Fed on Friday amid heavy praise and bitter criticism. Retrieved from Cnbc: https://www.cnbc.com/2018/02/02/yellen-exits-the-fed-today-amid-both-heavy-praise-and-bitter-criticism.html
Gillespie, P. (2015, SEP 14). Meet Janet Yellen: The most powerful woman in the world. Retrieved from CNN.MONEY: http://money.cnn.com/2015/09/14/news/economy/janet-yellen-federal-reserve/index.html
Rexaline, S. (2017, August 27). A Look At The Legacy Of Fed’s Janet Yellen During What May Be Her Final Jackson Hole Meeting. Retrieved from benzinga: https://www.benzinga.com/news/17/08/9980370/a-look-at-the-legacy-of-feds-janet-yellen-during-what-may-be-her-final-jackson-ho
Rushe, D. (2017, DEC 13 ). Janet Yellen raises interest rates in final act as Federal Reserve chair. Retrieved from THE GUARDIAN: https://www.theguardian.com/business/2017/dec/13/interest-rate-rise-federal-reserve-janet-yellen-final-act
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