CNN is reporting that President Obama will pick Janet Yellen as the next Federal chairperson. How will the markets react to this decision?
President Obama to nominate Janet Yellen to head the Fed - Oct. 8, 2013
Yellen will definitely the best central banker for the near future:
[B]Yellen is quite simply more qualified for the job than any of her predecessors. She’s an imaginative and technically adept economist possessed of a brilliant and precise mind. As a researcher, she has made fundamental contributions to our understanding of unemployment and the importance of smoothing out the ups and downs of the economy. She has demonstrated an ability to navigate political corridors, having served successfully as the chairman of President Bill Clinton’s Council of Economic Advisers[/B].
Bloomberg’s view on yellen.