Janet Yellen to join Brookings Institution upon leaving Fed

Outgoing Federal Reserve chair Janet Yellen- shown here in December 2017- admitted in an interview that she was

"I would have liked to serve an additional term and I did make that clear", she said, in her first comments on the matter.

The Fed made no note of any abuses that were new by Wells Fargo in the statement and neither of the releases by the Fed mentioned specific names of bank board members who, would be leaving.

"The enforcement action we are taking today will ensure that Wells Fargo will not expand until it is able to do so safely and with the protections needed to manage all of its risks and protect its customers", she said in what was perhaps her last official act as Fed chair.

Trump was highly critical of Yellen during the 2016 campaign, but took to praising her after becoming president.

Outgoing Federal Reserve Chair Janet Yellen said USA stocks and commercial real estate prices are elevated but stopped short of saying those markets are in a bubble.




Jerome Powell became chairman of the USA central bank, better known as the Federal Reserve (Fed), on February 3, 2018. He decided against reappointing the Democrat in favor of nominating Powell, a Republican. I think also a greater diversity, more women and minorities, may change the focus to some extent of the questions that people choose to look at and the analysis that they bring and a range of thinking that bears on research.

The Dow Jones industrial average closed at 25,520 on Friday after a 665-point drop. "But I do want to say high", Yellen said on CBS's "Sunday Morning" in an interview recorded Friday as she prepared to leave the central bank. "I want to repeat, we are open for business".

The financial system is now much better capitalised and the banking system more resilient than during the global financial crisis a decade ago, Yellen said. "Our overall judgment is that, if there were to be a decline in asset valuations, it would not damage unduly the core of our financial system". She returned as president of the San Francisco Fed in 2004, became vice chair in 2010 and chair in 2014.

Inflation has remained stubbornly below the Fed's two percent target, but the policy statement last week said the central bank expects prices to move up in the near term.

"The Federal Reserve has been on a path of gradual rate increases and if conditions continue as they have been, that process is likely to continue", she said. "It's very hard to tell" whether that's a bubble or just "too high".

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