Janet Yellen was confirmed on Monday night by the Senate as the first woman to head the Federal Reserve. The 67-year old
It has not yet been confirmed at the time of writing, but later today, we fully expect to see President Obama announce Janet Yellen as Ben Bernanke's successor as the Federal Reserve and, with it, the most powerful technocrat in the world.
2013 is looking increasingly like a year one can split into three very distinct thirds. The first third took us up to May, encompassing the Cypriot crisis and the inconclusive Italian election, sending risk markets into tail-spins and yields lower, and finishing when Ben Bernanke first mentioned the possibility that the Fed may 'taper' or reduce its bond-buying quantitative easing program.
The rhythmic rise and fall of market sentiment has become depressingly familiar; so much so that I feel like I'm stuck in some sort of time loop, with the same string of events repeating itself over and over again.