Yellen and the dwindling guns of Fort Fed Reserve

Yellen’s appointment definitely paves the way to a dovish leadership at the Fed but will she have more accommodation for the markets, given that Bernanke seems to have left the tap fully open. Perhaps more bond buying is one option or extending the buying program? If inflation creeps up to “acceptable” levels, that’s one way to have a legit mouse eat way at the debt outstanding.

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