Yellen Fighting for Job Growth Doesn’t Give Ground on Inflation

In the contest between competing schools of economics, Federal Reserve Vice Chairman Janet Yellen has woven her own path.

While viewed by some on Wall Street and Capitol Hill as a dove on monetary Policy, the designated successor to Chairman Ben S. Bernanke resists those, like International Monetary Fund Chief Economist Olivier Blanchard, who suggest that aiming for a higher inflation target than the current 2 percent would give policy makers more flexibility in setting interest rates.