4 big challenges for new Fed Chair Janet Yellen
By Rick Newman
3 hours ago
It will take years to determine whether Ben Bernanke’s 8-year tenure as chairman of the Federal Reserve was successful, but there’s one thing we already know about Bernanke: He was the Master Easer.
Bernanke began cutting interest rates in 2007, a year-and-a-half into his first term as chairman, and kept the easy money flowing until the very end of his time at the Fed. The official end of the super easy-money era came in December, when the Fed announced it would begin to wind down the huge bond-buying program knows as quantitative easing, which took effect at the end of 2008 and was renewed several times.