The bubble princess.
Too low for too long, and too tight too quickly.
* * * * * J B K * * * * *
San Francisco
When Janet Yellen was first reported to be President Barack Obama's choice for Federal Reserve vice chairman early last month, the dollar weakened on speculation she would help keep interest rates at a record low through the end of the year.
Less than two weeks later, the former professor at the University of California, Berkeley told reporters that she'd be ready to tighten policy to avoid kindling inflation. She pointed out that she had supported interest-rate increases 20 times in her years as a Fed governor from 1994 to 1997 and as president of the San Francisco Fed starting in 2004.
http://www.bloomberg.com/apps/news?pid=20601068&sid=atQYxcq8KG6k
