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Who's in Charge? Draghi and Yellen Facing December Decisions

  • Euro exchange-rate key in central bank `currency tennis'
  • Year end may bring new era of divergence in monetary stances
Janet Yellen, chair of the U.S. Federal Reserve, right, speaks with Mario Draghi, president of the European Central Bank, during the Jackson Hole economic symposium, in Moran, Wyoming, on Aug. 22, 2014.

Janet Yellen, chair of the U.S. Federal Reserve, right, speaks with Mario Draghi, president of the European Central Bank, during the Jackson Hole economic symposium, in Moran, Wyoming, on Aug. 22, 2014.

Photographer: Bradly Boner/Bloomberg
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Janet Yellen and Mario Draghi will end the year shaping each other’s decision making.

That’s what some economists are saying a day after European Central Bank President Draghi all-but committed to fresh stimulus for the euro-area in December. The same month was already a focal point for investors debating whether Federal Reserve Chair Yellen would raise the U.S. benchmark for the first time since 2006.