Yellen Needs to Keep It Simple
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Nov. 14 (Bloomberg) -- Janet Yellen has been closelyinvolved in designing Federal Reserve policy, so don’t expectany radical departures when she takes over as chairman from BenBernanke next year. That’s fine: No radical departure isnecessary. Bernanke’s Fed has done a good job under difficultcircumstances -- made even more difficult by the mess thatCongress has made of fiscal policy.
Still, there’s room for improvement on the presentation ofpolicy, and that’s an issue in which Yellen has already taken aparticular interest. Starting with her Senate testimony thisweek, she’s about to be tested on it much more minutely.