Yellen Distances Herself in Jackson Hole

[struggle4progress]

By Rich Miller and Craig Torres
August 25, 2017, 1:05 PM EDT

... By broadly defending the sweeping financial rules put in place in the past decade, Federal Reserve Chair Janet Yellen distanced herself on Friday from the anti-regulatory rhetoric of the man who will decide whether to replace her, President Donald Trump.

Yellen, whose term as Fed chair ends in February, used the high-profile setting of the central bank’s annual symposium in Jackson Hole, Wyoming, to argue that the raft of post-crisis regulations had made the financial system safer without unduly hurting the economy. Any rollback of those rules should be “modest,” Yellen said.

“She seems to be sending a message that if Trump is interested in renominating her, he needs to know that he’s going to get someone who doesn’t buy into Trump-world’s view of financial regulation,” said Ian Katz, an analyst at Capital Alpha Partners, a Washington firm specializing in policy analysis. “In other words, ‘If you want me, this is what you get.”’

Trump has said he’s considering reappointing the 71-year-old Yellen as central bank chair, although economists polled by Bloomberg do not expect that she’ll get the nod ...

https://www.bloomberg.com/news/articles/2017-08-25/yellen-gives-more-swan-song-than-job-audition-in-jackson-speech

[Wellstone ruled]

1. Ms.Yellen smells a

financial and looming Stock Market disaster. Cohn will just accelerate this scenario,Goldman-Sachs is already crying about how the Bond Market is freezing up. And the rotation into everyday Stocks has been the trend since January,meaning all those Mega Millionaires Investments in safe US Bonds is starting to squeeze their life styles.

[mwooldri]

2. I thought a Fed Chairman ends up in the role as long as s/he wants it.

Maybe it's my mind getting fried but didn't Alan Greenspan keep serving until he wanted to quit and same for Ben Bernanke?

I'll blame it on my memory cells going away if I'm wrong.

Edit to add: What I mean that successive administrations have allowed the Fed Chair to serve as long as it was doing its job. For the most part, it has.