Dollar Zone: Yellen
“Chairwoman”.
As we mentioned before, Yellen, who was appointed by President
Barack Obama as the future chairman of the U.S. central bank, pleaded yesterday
for the continuation of accommodative Fed policy.
Janet Yellen confirmed continuing the massive purchase of assets
and buy monthly captioned bonds for an amount of $ 85 billion to keep long
rates low and encourage investment and household consumption.
According to Ms. Yellen, it is important to support the US economy
because “the recovery is weak." Like her predecessor, Ben Bernanke, she
insisted on the objective of achieving and maintaining inflation adjacent to
both 2%, indicating a good recovery and it will lead to stop the asset purchase
in a year.
More interested in the subject of employment than price
stability, Janet Yellen believes that the unemployment rate of last Friday remained
high " 7.3 % of the U.S. population ... 36 % have been unemployed for more
than 6 months "and believes that it is important to " promote a strong
recovery " to reduce the unemployment rate.
Janet Yellen also said in her speech that one of the priorities
of the Fed is to provide public assistance to giant banks bankrupt and give
more strength to the market.
The intervention of Janet Yellen before the Senate committee was
highly appreciated in the markets, the Dow Jones and S& Poor’s posted new
records.
Janet
Yellen has convinced and her program promises a strong growth of the American
economy. We do not expect surprises for the appointment of Yellen at the head
of the 
