Farewell dear Janet: End of an era at the Federal Reserve

Maximised employment

Gary Kirk, partner and portfolio manager at TwentyFour Asset Management, pays tribute to the outgoing chair of the Federal Reserve after four years at the helm.

Janet Yellen bowed out with her last Federal Open Market Committee (FOMC) meeting yesterday evening after what will quite rightly be viewed as a successful four-year term in office. Admittedly, the Fed fell short of the 2% inflation target during her tenure, but the other mandate criteria of maximising employment was effectively achieved. Tomorrow, Yellen officially packs up her desk and leaves the Fed, and on Monday Jerome Powell will be sworn in as the new Fed chair.    Fed maintains interest rates amid inflation concerns As expected, Fed funds were kept on hold yesterday at 1...