Janet Yellen, then Federal Reserve chair, speaks during a news conference following the Federal Open Market Committee meeting in Washington on December 13, 2017. Photo: AP Janet Yellen, then Federal Reserve chair, speaks during a news conference following the Federal Open Market Committee meeting in Washington on December 13, 2017. Photo: AP
Janet Yellen, then Federal Reserve chair, speaks during a news conference following the Federal Open Market Committee meeting in Washington on December 13, 2017. Photo: AP
David Brown
Opinion

Opinion

Macroscope by David Brown

What does Janet Yellen as Treasury secretary mean for the US economy?

  • Given that Yellen has been chair of the Federal Reserve, US fiscal and monetary policy are likely to be much more in sync
  • While Yellen is not an advocate of austerity policies, if the market appetite for risk skyrockets or the dollar weakens considerably, higher interest rates might come sooner than expected

Janet Yellen, then Federal Reserve chair, speaks during a news conference following the Federal Open Market Committee meeting in Washington on December 13, 2017. Photo: AP Janet Yellen, then Federal Reserve chair, speaks during a news conference following the Federal Open Market Committee meeting in Washington on December 13, 2017. Photo: AP
Janet Yellen, then Federal Reserve chair, speaks during a news conference following the Federal Open Market Committee meeting in Washington on December 13, 2017. Photo: AP
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David Brown

David Brown

David Brown is the chief executive of New View Economics. Over a career spanning four decades in London, David held roles as chief economist in a number of international investment banks.