Janet Yellen Is Close to Making History in Two Ways
December 2, 2013 10:23 pmVideo
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Janet Yellen Is Close to Making History in Two Ways
Psychology appears near a major turn
By Elliott Wave International
Janet Yellen just moved closer to her place in history when the Senate Banking Committee approved her nomination to lead the Federal Reserve. The full Senate is expected to confirm. If so, she will be the first chairwoman in the central bank’s 100 year history.
But when her term concludes, gender may be secondary to the narrative about her time at the helm. The larger focus could be that Yellen was at the helm of economic disaster.
Here’s what Robert Prechter said in the October Elliott Wave Theorist:
Indeed, 10-year Treasury note yields stand near a two-month high.
Moreover, bond yield spreads have widened:
Worried bond investors may well demand even higher yields down the road.
Bond yields skyrocketed during the Great Depression; the
October Theorist also said that the Yellen era will
likely have a parallel with former Fed chair Eugene Meyer,
who presided over the central bank during the Great Depression.
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