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Federal Reserve System

The Fed

The First Thing Yellen Should Do to Save America

By , Chief Investment Strategist, Money Morning • @ShahGilani_TW - • Print | Email

There is so much to say about the United States government not defaulting.

I'd like to start with a thank you.

It isn't easy, but I'll try.

Thank you, Congress, for showing the world there's nothing wrong with the full faith and credit of the United States… and for showing the world that having full faith and credit in the United States government is a total bust.

An extension? Really? So, we go through this again in a matter of weeks?

Thanks.

But let's move on. Let's talk about Janet Yellen. She's far more relevant.

She's about to become the most powerful person in the United States – in the entire world, for that matter.

Here's the first thing Yellen could do with all that power - if she wants to save America...

The Fed

Who Is Janet Yellen, and What Will She Be Like as the Next Fed Chair?

By , Contributing Writer, Money Morning - • Print | Email

U.S. President Barack Obama officially nominated Janet Yellen as the next Federal Reserve Chairman today (Wednesday).

Dow and S&P 500 futures immediately jumped late Tuesday on news the nomination was coming. A vote for Yellen suggests continuity, not change.

As Chief Investment Strategist Keith Fitz-Gerald has said, "Yellen has never met a printing press she didn't like."

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The Fed

Janet Yellen as the Next Fed Chair: What That Means for Markets, Economy

By , Executive Producer, Money Morning - • Print | Email

Janet Yellen as the Next Fed Chair: Today (Wednesday), U.S. President Barack Obama will nominate Federal Reserve Vice Chairwoman Janet Yellen to replace Ben Bernanke as the head of the U.S. central bank.

If she clears a Senate nomination, Yellen would be the first woman to lead the Federal Reserve and arguably the most experienced Fed chair in decades, based on her extensive tenure at the central bank.

Wall Street will love Janet Yellen even more than Helicopter Ben...

The Fed

Fed Speeches This Week

By , Money Morning - • Print | Email

The presidents of the various U.S. Federal Reserve branches are having a very busy week, with speeches from one end of the country to the other, and a few overseas engagements, too.

We'll be following these speeches closely for any Earth-shaking revelations. These are private speaking engagements, to be sure, but we've seen fireworks in these cases before.

Here's a list of all the (scheduled) Fed speeches this week, plus what they'll be talking about. Set your calendars for the following:

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The Fed

Today's FOMC Meeting Cheat Sheet

By , Associate Editor, Money Morning • @TaraKateClarke - • Print | Email

Today's FOMC meeting will kick off a two-day discussion of economic policy – and will leave unprepared investors confused…

Both the FOMC policy statement and its economic and market projections will be released on Wednesday at 2 p.m. EDT and will be followed by U.S. Federal Reserve Chairman Ben Bernanke's press conference at 2:30 p.m.

[Editor's Note: Stay tuned to Money Morning for a Wednesday FOMC Meeting roundup.]

The question hot on everyone's tongue is what the FOMC will decide to do about the $85 billion in monthly bond buying – will the inevitable quantitative easing (QE) taper finally begin?

The Fed

The Next Federal Reserve Chairman: Summers Out, Yellen In

By , Executive Producer, Money Morning - • Print | Email

Larry Summers shocked Wall Street and Washington circles on Sunday by withdrawing his name for consideration as the next U.S. Federal Reserve chairman.

Summers wrote in a letter to U.S. President Barack Obama, "I have reluctantly concluded that any possible confirmation process for me would be acrimonious and would not serve the interest of the Federal Reserve, the Administration, or ultimately, the interests of the nation's ongoing economic recovery."

His decision comes at a critical point for the Federal Reserve.

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