On Monday, the Senate acted as expected by voting to confirm Janet Yellen to the top post at the Federal Reserve. As you likely know, Yellen is considered a ?dove? when it comes to monetary policy, and as vice chairman under Ben Bernanke, Yellen was thought to be an important advocate behind the central bank?s unprecedented quantitative easing program. Interestingly, Yellen enters the top job with a table set for the Fed?s ?taper? of its current $85-billion-per-month bond-buying program, a program that will be pared down to $75-billion-per-month beginning this month.
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