Janet Yellen, nominated to be the next chairman of the Federal Reserve, said the economy and labor market are performing “far short of their potential” and must improve before the Fed can begin reducing monetary stimulus. “Her approach is let’s do more QE now to get the job done faster,”
said Laura Rosner, a U.S. economist at BNP Paribas SA in New York, and a former researcher at the New York Fed, referring to the quantitative easing bond purchase program. “Yellen is repeating her commitment to getting the job done.” Yellen Says Economy Performing ‘Far Short’ of Potential - Bloomberg
Fed Chairman nominee Yellen spoke and the equity markets loved her message of even more easy money. This will be a case of Bernanke on steroids when she takes over the reins at the Fed.