Most experts agree that Janet Yellen will have little trouble getting confirmed as the next Federal Reserve chairman.
So what would a Yellen chairmanship look like?
Michelle Girard, chief U.S. economist at RBS, tells
Yahoo that the new Fed chief will shift the policy of current Fed Chairman Ben Bernanke to focus more on the central bank's zero-interest-rate policy than quantitative easing (QE).
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The Fed's federal funds rate target stands at a record low of zero to 0.25 percent.
"Her whole focus has been on the forward guidance — the communication that the Fed gives about the outlook for interest rates," Girard said. "And a lot of her work suggests rates may not to be raised until 2016 maybe 2017."
Independent economist Gary Shilling sees Yellen as approving of a more accommodative policy than Bernanke.
"By her voting record and speeches, she's more dovish than Bernanke," he told Yahoo.
"So you had the Greenspan put, you had the Bernanke put, now you'll probably have the Yellen put."
A put is literally an option to sell an asset. In this context it means that the central bank will bail out the financial system and economy with easing in times of trouble.
In her comments to Congress Thursday, Yellen spoke of her hopes for a stronger economic recovery.
"Her approach is, 'Let's do more QE now to get the job done faster,'" Laura Rosner, a U.S. economist at BNP Paribas, tells
Bloomberg.
"Yellen is repeating her commitment to getting the job done."
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