Who could better explain what lies ahead for Fed Chairman Vice Janet Yellen as the man before her Office had held? Donald Kohn, former Governor of the fed, and now the Brookings Institution senior fellow, joined the MoneyBeat show today to talk about Ms. Yellen morning next Act.
"I this expect above all about continuity," he said of Ms. Yellen nomination, noting how pleased he was by her. Between her skills as a macroeconomist, their analysis and experience and devotion to the public interest "it the whole package."
In other words, the Bernanke fed stimulus unloaded "is a big challenge," he said. Right time, trajectory and communication is tricky.
"It's very hard each time you change the orientation of the monetary policy."
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