Monday, November 18, 2013

What Yellen didn't tell Congress and why it matters

What Yellen didn't tell Congress and why it matters

The most revealing thing about Janet Yellen’s widely praised Senate confirmation hearing performance last week might not have been what she said, but what she didn’t say - and how she didn’t say it.

President Barack Obama’s nominee to be the next chair of the Federal Reserve smiled and nodded her way through a two-hour hearing on Thursday without giving the Senate Banking Committee any real clues as to how she views near-term monetary policy choices.