What Yellen's Fed will look like

The dovish Janet Yellen will stand her ground with steely determination as she weighs up the Fed’s withdrawal of bond-buying stimulus.

Confirmation that the White House will nominate Janet Yellen as the new head of the Federal Reserve should give some measure of comfort to financial markets currently frozen into inactivity by the political stalemate in Washington.

Yellen, who has refrained from making policy sensitive comments in recent months while the nomination process was underway, has been a strong advocate of the Fed’s unconventional quantitative easing program since its inception.

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