Submitted by Mark Hanna
Courtesy of MarketMontage. View original post here.
Since the most important thing in financial markets these days has little to do with economic, earnings, revenue or margins but rather knowing tendencies of your global central bankers, it is best to know all about the presumed next Fed head – Janet Yellen. The NYT does a nice write up on the woman who has the inside lead at the 2nd most powerful job in the world.
- If confirmed, Ms. Yellen would become the first woman to lead a major central bank. She is 66, seven years older than Mr. Bernanke. She would be 71 by the end of a four-year term as chairwoman. But she remains in good health, and friends say that, like other prominent women of her generation, she regards herself as being in the prime of a late-blooming career. Nor would she be the oldest person to lead the Fed. Mr. Greenspan began his fifth and final term in 2004 at 78.
- Ms. Yellen, slight, white-haired and described by one colleague as a “small lady with a large I.Q.,” does not loom like Paul Volcker nor cut like Mr. Greenspan. Her personal style more closely resembles Mr. Bernanke’s soft-spoken manner. The force of her arguments can catch people by surprise.
- There are other potential candidates for the job, including Roger W. Ferguson Jr. and Professor Blinder, both former Fed officials, and economic advisers to Mr. Obama including Timothy F. Geithner and Lawrence H. Summers. But Ms. Yellen appears to be the front-runner in a race that has not actually started quite yet.
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Picture credit: Jr. Deputy Accountant
