America’s most powerful woman is losing her job
Federal Reserve Chair Janet Yellen earned widespread approval for her term at the helm of the US central bank, a singularly powerful job in the global economy.
On her watch, US unemployment fell sharply – reaching 4.1 per cent in October, the lowest point since 2000, the government reported on Friday. Inflation stayed subdued, wages began to rise, and she managed a gradual start to the Fed’s unwinding of its US$6.5 trillion balance sheet, a tricky task that could have undercut growth if mishandled.
People who don’t agree on much else have generally agreed that her record is stellar. Democrat senator Elizabeth Warren this week called her “one of the most successful Fed chairs in history”, while President Donald Trump said that she’s done an “excellent” job.