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Janet Yellen Dose Not Plan To Slow The Feds $85 Billion Monthly QE Program


Janet Yellen, the top nominee to replace Ben Bernanke as, chairman of the Federal Reserve, said she would continue to promote the economic recovery through the Fed's current QE program. Yellen said, "It's important not to remove support, especially when the recovery is fragile and the tools available to monetary policy, should the economy falter, are limited given that short term interest rates are at zero." The Fed currently currently purchases $85 billion in U.S. bonds every month, which has raises the Fed assets to a record $4 trillion. With Yellen, not planning to shake up the QE program anytime soon it spells for a smooth transition when she replaces Bernanke in January.