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Will Bernanke Resign Now Yellen Named ?

Posted by WorldWideMarkets . on Oct 10, 2013 3:25:00 AM
With current vice chair Janet Yellen named as the successor to current Chairmen of the Federal Reserve Ben Bernanke the question arising is if  Bernanke will resign? His term is up early next year anyway and with Yellen most likely to continue the current policies while marching to her own time line it serves no purpose for Bernanke to stay. Bernanke only has three more meetings as it is with this month's, one in mid December and then the final one in late January, 2014. If Yellen is confirmed, why should Bernanke stay?   
For trading the dollar it may not mean much at all over the long term given that stimulus will be tapered. It does matter in the near term for when tapering will begin. If Bernanke does decide  to stay until the end of his term, and  October tapering is off the table because of the government shutdown and debt ceiling debate, why would the Ben Bernank lead the decision to taper at his final two meetings if Yellen is already confirmed and he can leave all the decisions to her Fed?
While the naming of Yellen has added to certainty and increased the odds that the transition will be smooth, given the tapering stakes there could not help but be a little uncertainty over the timing of any decrease in stimulus whoever had been nominated.
Perhaps it would be better if Bernanke just steps away.  trading Yellen
 

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