yesterday , jenet yellen appeared before the house financial services committee in her first hearing since she was sworn in as chair of the federal reserve.Looking tiny in a black-and gray checked jacket and surrounded by camera lenses , she demonstrated remarkable stamina during six hours as
she discussed the economy, monetary policy, and the Fed’s plans. Over
the course of her remarks, a few things became clear:
1. Yellen proved to be as politically astute as we thought.
The
chairwoman lived up to her reputation as someone who can soothe prickly
egos and dilute political tension, in this case by opening the meeting
with an offer to stay in her seat as long as the congressmen in
attendance wanted her to. Such a move immediately dispelled any
hostility that might have been directed her way.
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