10 Questions for Janet Yellen
The heir-apparent to Helicopter Ben
Do you know how much the Fed's balance sheet has increased as a result of QE?
Regarding the answer to the previous question, what % of GDP growth over the years can be directly traced to this amount?
The Federal Reserve currently has a “dual” mandate: a stable currency and economic growth. Is the latter a proper task of monetary policy?
In the aftermath of the near collapse of the banking system 4 years ago, the Federal Reserve lent reserves to many banks but refused to disclose who and how much or even which country. In your opinion, did this decision damage public support for the FR?
Over the years, the retired Chairman Alan Greenspan has admitted that he missed the property “bubble”, and that he was at least partly responsible for the subsequent collapse of the banking sector. Do you agree?
The current Chairman has previously stated that 6.5% unemployment would signal the end of QE. Do you agree, or do you think that this standard should be explicitly discarded?
Some have stated that QE has eased the need for serious fiscal reform. Do you agree?
Some members of the Senate have stated the need to audit the FR. The current chairman has stated that such audits already take place. What types of additional audits would you be willing to support, and should they be publicly reported?
Do you believe that QE is consistent with the stated goal of a strong dollar?
President Nixon closed the gold window in 1971. Under what conditions do you think it should be reopened?
In the opinion of Alan Blinder, past member of the Council of Economic Advisors and ex-vice-chair of the FR, several US banks are “too big to fail”. Do you agree, and what, if anything, should the FR do about it?
Yes, I am capable of counting to “10”.