“We now know where we stand. Janet Yellen is to take over the US Federal Reserve, the world’s monetary hegemon, the master of all our lives.  The Fed will be looser for longer. The FOMC will continue to print money until the US economy creates enough jobs to reignite wage pressures and inflation, regardless of asset bubbles, or collateral damage along the way.  No Fed chief in history has been better qualified. She has pedigree. Her husband is Nobel laureate George Akerlof, the scourge of efficient markets theory.  Her lodestar is the ‘non-accelerating inflation rate of unemployment’ (NAIRU). When the rate is above NAIRU, she is a dove: when below, she is a hawk.”

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100025713/rejoice-the-yellen-fed-will-print-money-forever-to-create-jobs/

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