Rejoice: the Yellen Fed will print money forever to create jobs

Rejoice: the Yellen Fed will print money forever to create jobs

http://blogs.telegraph.co.uk/finance/ambroseevans-pritchard/100025713/rejoice-the-yellen-fed-will-print-money-forever-to-create-jobs

We now know where we stand. Janet Yellen is to take over the US Federal Reserve, the world's monetary hegemon, the master of all our lives.

• Obama to nominate Janet Yellen as Federal Reserve chairman

• Choice of 'battle-tested' Yellen relieves markets

• Janet Yellen: a 'hawk in dove’s clothing'?

The Fed will be looser for longer. The FOMC will continue to print money until the US economy creates enough jobs to reignite wage pressures and inflation, regardless of asset bubbles, or collateral damage along the way.

No Fed chief in history has been better qualified. She is a glaring contrast to Alan Greenspan, a political speech writer for Richard Nixon, who never earned a real PhD (it was honorary) or penned an economic paper of depth.

She has pedigree. Her husband is Nobel laureate George Akerlof, the scourge of efficient markets theory. She co-authored "Market for Lemons", the paper that won the prize.

Janet L. Yellen

Janet L. Yellen is the vice chair for the Federal Reserve Board, a member of the Federal Open Market Committee, married to George A. Akerlof, a professor emeritus at the University of California, Berkeley, was the president & CEO for the Federal Reserve Bank of San Francisco, and the chairman for the Council of Economic Advisers.

Note: Emmett J. Rice was a member of the Federal Reserve Board, married to Lois Dickson Fitt, and his daughter is Susan E. Rice.

Lois Dickson Fitt was married to Emmett J. Rice, a guest scholar at the Brookings Institution (think tank), and is Susan E. Rice’s mother.

Susan E. Rice is Emmett J. Rice & Lois Dickson Fitt’s daughter, the White House national security adviser for the Barack Obama administration, and was a senior fellow at the Brookings Institution (think tank).

Alice M. Rivlin was the vice chair for the Federal Reserve Board, and is a senior fellow at the Brookings Institution (think tank).

Donald L. Kohn was the vice chairman for the Federal Reserve Board, a member of the Federal Open Market Committee, and is a senior fellow at the Brookings Institution (think tank).

Richard C. Blum is an honorary trustee at the Brookings Institution (think tank), married to Senator Dianne Feinstein, the Economic Advisory Council member for the Federal Reserve Bank of San Francisco, and a board member for the Haas School of Business.

Laura D'Andrea Tyson is a professor at the Haas School of Business, and was a trustee at the Brookings Institution (think tank).

Haas School of Business is a business school and the University of California, Berkeley.

George A. Akerlof is a professor at the University of California, Berkeley, married to Janet L. Yellen, an advisory council member for the Hamilton Project, and a director at the National Bureau of Economic Research.

Hamilton Project was an economic policy project for the Brookings Institution (think tank).

Jason L. Furman was a director at the Hamilton Project, a senior fellow at the Brookings Institution (think tank), is the chairman for the Council of Economic Advisers, and the assistant to the president for economic policy for the Barack Obama administration.

Christina D. Romer was the chair at the Council of Economic Advisers for the Barack Obama administration, is a professor at the University of California, Berkeley, and married to David H. Romer.

John P. Holdren was a professor at the University of California, Berkeley, and is the White House science adviser for the Barack Obama administration.

Michael L. Nacht was a professor at the University of California, Berkeley, and is the assistant secretary for global security affairs at the U.S. Department of Defense for the Barack Obama administration.

David H. Romer was a junior staff economist at the Council of Economic Advisers, is married to Christina D. Romer, a professor at the University of California, Berkeley, and a senior fellow at the Brookings Institution (think tank).

Bill & Melinda Gates Foundation was a funder for the Brookings Institution (think tank).

Christopher Edley Jr. is a U.S. program advisory panel member for the Bill & Melinda Gates Foundation, an advisory council member for the Hamilton Project, the law school dean for the University of California, Berkeley, a board of advisers member for the American Constitution Society, was a governing board member for the Common Cause, and an associate director for economics & government for the U.S. Office of Management and Budget.

Hamilton Project was an economic policy project for the Brookings Institution (think tank).

Open Society Foundations was a funder for the American Constitution Society, and the Center for American Progress.

George Soros was a supporter for the Center for American Progress, is the founder & chairman for the Open Society Foundations, and the chairman for the Foundation to Promote Open Society.

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank), the Common Cause, and the Center for American Progress.

Eric H. Holder Jr. was a board member for the American Constitution Society, and is the attorney general at the U.S. Department of Justice for the Barack Obama administration.

Carl Shapiro was an assistant attorney general for economic analysis (antitrust) for the U.S. Department of Justice for the Barack Obama administration, a member of the Council of Economic Advisers, and is a professor at the Haas School of Business.

Haas School of Business is a business school at the University of California, Berkeley.

Robert Raben was a director at the American Constitution Society, the assistant attorney general for the U.S. Department of Justice, and is the president of the Raben Group.

Melody C. Barnes was a principal for the Raben Group, the domestic policy council, director for the Barack Obama administration, the EVP for the Center for American Progress, and is Barack Obama’s golf partner.

Ezekiel Emanuel is a senior fellow at the Center for American Progress, Rahm I. Emanuel’s brother, and was the health care policy adviser at the U.S. Office of Management and Budget for the Barack Obama administration.

Michele Jolin is a senior fellow at the Center for American Progress, and was the chief of staff for the Council of Economic Advisers.

Lawrence H. Summers is a distinguished fellow at the Center for American Progress, was the National Economic Council chairman for the Barack Obama administration, a trustee at the Brookings Institution (think tank), and a 2008 Bilderberg conference participant (think tank).

Cyrus F. Freidheim Jr. is an honorary trustee at the Brookings Institution (think tank), and a member of the Commercial Club of Chicago.

Rahm I. Emanuel is a member of the Commercial Club of Chicago, Ezekiel Emanuel’s brother, the Chicago (IL) mayor, was the White House chief of staff for the Barack Obama administration.

Commercial Club of Chicago, Members Directory

http://commercialclubchicago.org/members/e.html

Please note: This link for the members of the Commercial Club of Chicago can no longer be found.

Laura D'Andrea Tyson was a trustee at the Brookings Institution (think tank), and is a professor at the Haas School of Business.

Haas School of Business is a business school at the University of California, Berkeley.

Janet L. Yellen is a professor emeritus at the University of California, Berkeley, the vice chair for the Federal Reserve Board, a member of the Federal Open Market Committee, married to George A. Akerlof, was the president & CEO for the Federal Reserve Bank of San Francisco, and the chairman for the Council of Economic Advisers.

George A. Akerlof is a professor at the University of California, Berkeley, married to Janet L. Yellen, an advisory council member for the Hamilton Project, and a director at the National Bureau of Economic Research.

Hamilton Project was an economic policy project for the Brookings Institution (think tank).

David H. Romer is a senior fellow at the Brookings Institution (think tank), a professor at the University of California, Berkeley, was the co-director, program in monetary economics at the National Bureau of Economic Research, and a junior staff economist for the Council of Economic Advisers.

Elizabeth E. Bailey is a director at the National Bureau of Economic Research, and an honorary trustee at the Brookings Institution (think tank).

Foundation to Promote Open Society was a funder for the Brookings Institution (think tank).

George Soros is the chairman for the Foundation to Promote Open Society, and Jim Yong Kim was a guest at his 2013 wedding.

Jim Yong Kim was a guest at George Soros 2013 wedding, and the president of the World Bank.

A.W. Clausen was the president of the World Bank, and an honorary trustee at the Brookings Institution (think tank).

Robert S. McNamara was the president of the World Bank, and an honorary trustee at the Brookings Institution (think tank).

James D. Wolfensohn was the president of the World Bank, and an honorary trustee at the Brookings Institution (think tank).

Ngozi Okonjo-Iweala was a managing director at the World Bank, and a visiting fellow at the Brookings Institution (think tank).

David Dollar was a country director for China and Mongolia at the World Bank, and is a senior fellow at the Brookings Institution (think tank).

Susan E. Rice was a senior fellow at the Brookings Institution (think tank), is Lois Dickson Fitt & Emmett J. Rice’s daughter, and the White House national security adviser for the Barack Obama administration.

Lois Dickson Fitt is Susan E. Rice’s mother, was a guest scholar at the Brookings Institution (think tank), and married to Emmett J. Rice.

Emmett J. Rice was Susan E. Rice’s father, married to Lois Dickson Fitt, a member of the Federal Reserve Board, and the U.S. alternative director for reconstruction & development for the World Bank.