How Will Janet Yellen Shape the Fed?

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Oct. 9 (Bloomberg) -- On today's "The Real Deal," Michael McKee looks at the nomination of Janet Yellen to head the Federal Reserve. he speaks on Bloomberg Television's "In The Loop." (Source: Bloomberg)

She is making history, but the question is how she will shape it.

She is the first woman to lead the federal reserve has she will also be the first federal reserve vice chairman to ever take the role.

Peter cook said she should be able to win confirmation easily.

She has been at the fed for almost 19 years.

The only interesting thing in her financial disclosure form is she has a large stamp collection.

Everybody will be watching to see how she manages the fed exit from the balance sheet.

This will be a difficult task.

She is known for being precise and meticulous and laying out the case for action in specific terms.

That is what the markets will want to hear -- how does she do this without touching off inflation or sending the markets crashing?

We saw what happened when ben bernanke whispered the word paper -- taper.

There is a perception that she is softer on inflation, more dovish and ben bernanke.

Is that true?

The idea of low prices and unemployment -- over the last decade it became orthodox that you would with low prices.

She says coming out of the great recession like the one we had, unemployment is so deep, that hurts the nation's productive capacity heard a lot of people cannot find jobs, their skills the road, and you should put some emphasis on building up labor markets.

The other big task will be implementing dodd frank, preventing another great recession that we saw in 2008. will she be able to get that done?

She should be able to get it done.

She has admitted she did not supervise countrywide and other lenders in her district as well as she could have terry it has made her a -- could have.

It has made her a hawk.

She has become very proactive, so banks can not expect any kind of a break.

Tell me about who she is as a person.

She likes stamps, gardening.

Who is she, really?

She is an economist at heart, going to the beach with books on economics.

She has studied hard her entire career.

She is a late boomer in her career and deserves all the credit that she should get.

Michael mckee, a white error -- thank you.

We are joined by ed conrad, who worked with governor mitt romney, and by danny blanchflower.

Welcome.

How do you think the markets are going to perceive janet yellen?

I think the market anticipated this one larry summers dropped out of the process.

It is baked in?

It is largely vacant.

-- baked in.

This text has been automatically generated. It may not be 100% accurate.

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