¶ … Fox news website, on Dec. 20, 2013, "If confirmed, Yellen would be the first woman to lead the Fed and the first Democrat to do so since Paul Volcker stepped down in 1987." She is an economist, a democrat, a woman, she is married to a Nobel Prize winner and she has a son. She comes from a Jewish family from Brooklyn and she has the solid reputation of an economist who has been educated in some of the best schools of the U.S. And has taught in some of the best schools in the U.S. ad the UK. One will easily find out about her career and life achievements going on Google and typing her name.
During the last months of 2013 and the beginning of 2014 there were rivers of ink flowing from the journalists pens as well lots of words uttered from their mouths announcing first Janet Yellen's nomination and then her swearing in as Chairwoman of the Federal Reserve Bank of the U.S.' board of governors. Both President Obama and the republicans agreed upon her nomination.
Monetary policy is crucial to a democratic state such as the U.S. Its head of the Federal Reserve, Janet Yellen, needs public approval, along with both the Republican and Democratic parties support in order to go on with whatever policies the Federal Reserve Bank of the U.S. decides to implement. As Sarah Binder comments in her February 2014 article in the newspaper The Washington Post comments: "The greater the public's confidence in the Fed, the greater the Fed's autonomy and its ability to make tough policy choices. When public confidence is low, the Fed's political resolve to make hard choices might be questioned. In turn, uncertainty about future Fed policy undermines the effectiveness of monetary policy." (Binder, 2014)
Janet Yellen has served as vice-chair of the board of governors of the U.S. Federal Reserve for the last four years. This year, she has been sworn in as Bernanke's successor as Chair of the Board of governors of the same institution. As previously noted, public opinion will be crucial for her position. The financial markets, which are very sensitive to any change, including this one, will also be likely to sense the slightest change in her Fed policies and start shaking. She should feel like walking on fire, but as a reputed economist and politician, she seems to know only too well how political communication is done.
In the Internet era, the power of the other payer in the political communication elements, the public, should have increased once the reader's or watcher's opinions got a space on the newspaper or the TV channel website. On the hand, politicians such as Janet Yellen, will be able to find out almost instantly what pleases or displease her public and therefore she will be able to act accordingly. As Brian McNair notes in his book An Introduction to Political Communication, audiences may be as big as an entire U.S. nation. Janet Yellen got the Senate approval; she will need the rest of the nation's approval.
When analyzing some of the most important news makers in the U.S. As well as the rest of the world, one will soon find out that Janet Yellen's name is always closely related to the U.S. economy. Not surprisingly, of course, considering her affiliation with the U.S. Federal Reserve Bank. At one point, one of the readers who posted comment on a newspaper website wrote that she might hold even more power that the President of the U.S. himself. As much as an exaggeration, some portions of the target public might regard her as just that: a policymaker who has the power to change the economic destiny of an entire nation and therefore, make the world spin toward a certain direction.
Fox News as well as CNN, two apparently directly opposed from a political orientation point-of-view news makers and some of the most important news TV channels in the world, when tackling the question of where should Janet Yellen take the federal Reserve monetary policy next . As previously noted, the Chair of the federal Reserve is in as much need of public approval as anyone who is regarded as highly as the President, but the Chair of the Fed is in a special position that makes him or her somehow invincible once in that position. Some voices claim that no matter what the public opinion says about monetary policies, unemployment rates vs. inflation and so one, the Chair is above all that and will always act according to...
Economic Inequality There are certain specific factors associated with the rich. As along as one can afford decent shelter, sumptuous meals; better education and access better health care then such a person cannot be said to be poor. It is so natural for the rich to remain healthy and live longer than the poor. They lead an easy life, for instance, it is unheard of for a business executive to go
For example, the value of some gas to someone that is just trying to mow their lawn is a lot less than with someone who is trying to escape a coming hurricane. However, a dollar-based system is better in that the value of money is much more stable and definable than with non-cash items because the value of those non-cash items (or any other "currency") is subject to a lot
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Macroeconomic Policies The current monetary and fiscal policies in the United States are controlled and levered by the Federal Reserve which has recently announced that it will incrementally raise interest rates over the next course of the year by 25 basis points on a quarterly basis. However, with the economic tailspin being demonstrated on a global scale and the topic of negative interest rates being floated on the international level, the
AbstractOne of the things skeptics like to point out about the crypto markets is that they are notoriously unregulated, opaque, and risky. Crypto exchanges like Binance (run by Changpeng �CZ� Zhao) and Coinbase tend to stay on the �safer� side of things by doing their utmost to work with regulators. Part of the problem, however, is that regulatory agencies like the SEC are not even sure how they want to
1. Briefly describe central banks’ response to global financial crisis. When recessions and other economic problems strike, one of the main responses that is seen from the economies involved is a lowering of interest rates. Indeed, the governments make money cheaper for banks to borrow so that it spurs investment and growth. This, in turn, tends to help support or grow economies. There is also the use of quantitative easing and
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