Janet Yellen was all smiles at her swearing in ceremony. She is now the first female to chair the Federal Reserve. And inherits a pile of work and big decisions.
The Fed is in the middle of unwinding its unprecedented bond buying program- taking it down by $10 billion for the second time last week.
And she is closely watching the unemployment rate- now at 6.7 percent- very close to the Fed's target of 6.5%. A topic sure to come up at her first big testimony to Congress next week:
BMO Capital Markets Chief U.S. economist Michael Gregory:
SOUNDBITE: MICHAEL GREGORY, CHIEF U.S. ECONOMIST, BMO CAPITAL MARKETS (ENGLISH) SAYING:
"I think she will obviously talk about the unemployment rate between the two aspects of the mandate: the inflation underperformance and too high unemployment. Ms Yellen has always put a bit more emphasis on the labor market side. But that unemployment rate has fallen quite a bit over the last little while and I think what she will probab
