Yellen determined to avoid disaster in financial markets




“With deadly earthquakes, hurricanes, floods and fires, this seems like a season of disasters,” wrote Don Pittis for CBC News on September 21, 2017.

Pittis continued, “Yesterday the world’s most powerful central banker, Janet Yellen, demonstrated that she is determined not to create another disaster in financial markets in spite of a dramatic change in course.

Yellen threw the switch on a plan to reverse one of the two methods central banks have used to recharge an economy battered by the 2008 financial storm.

Yellen, the U.S. Federal Reserve chair, has now formally asserted that she will withdraw both those kinds of monetary boosts to the economy, the stimulus of low rates and the slightly more complex stimulus of buying up bonds.

Nerve-racking peak

And rather than creating a shock wave likely to tumble stock markets, now trembling near a nerve-racking peak, it appears  the cautious Yellen has once again proved her worth as a safe pair of hands.”

Read the full article here. 

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