Ok I am making a new FED prediction. If Bernanke decides to retire I submit that the next head of the FED will be Janet Yellin. I submit 2 reasons why this will happen. First, it is about time a female is appointed to this post. And second, she is a dove, which President Obama would want.
Ever since 2009 pundits have gotten Uncle Ben wrong. Not because of what Bernanke says but by what the pundits think he really means. He said he was going to keep interest rates low for an EXTENDED period of time. I kept arguing here that meant many years because it would take as much to run through the housing foreclosures. [more]