Janet Yellen is one name you’ll be hearing in the news more often than any with regard to our economy. The new fed chief has been under a bit of scrutiny recently for making what people are calling a “rookie mistake.” Recently Yellen gave guidance on the Fed’s plan to increase the federal funds rate. However, many are saying that she was “too clear” in her statements.
At her first press conference since becoming Fed chair in February, Yellen was asked what the Fed meant by “a considerable time” when referencing the general term that’s been used to describe when a rate hike might occur. Yellen, having been connected with the Fed in one capacity or another for most of the past 20 years, made a mistake by saying “You know, this is the kind of term it’s hard to define, but, you know, it probably means something on the order of around six months or that type of thing.”
This sent shock waves through the financial markets and as such Wall Street took a nose dive that day because her statements made it pretty clear that hikes would occur way sooner than expected. While Yellen learns from her political mistakes we wanted to take the time to speculate on some of the many nicknames that Yellen’s going to get during her tenure as Fed Chief. We took to forums and other opinion pieces to see which nick names would stick. We’re putting our smart money on “Old Yellen.” Here are six that seem to be making headlines already:
Old Yellen – a play on words with the popular movie “Old Yeller,” this is the nickname that seems to be getting the most press. The only part that’s a little odd is that we all know what happened at the end of the movie “Old Yeller. ”
Speed Bump – she’s already been called this a couple of times in news pieces. It’s referring to her “stop” and “go” style. Yellen is known to slow things down quite a bit at times but also give them a boost when necessary.
Janet Taxin’ – this in reference to Janet Jackson but also referring to her relationship with President Obama. Most conservatives believe Yellen is in favor of tax hikes as the President is.
The Dove – This nickname is also getting a lot of press. Central bankers are often described as “hawks” who prioritize inflation or “doves” who focus on unemployment. Yellen is seen as dove-like for wanting to stimulate the economy back to full employment.
Mo Money Yellen – this one’s just kind of funny. Who knew a Damon Wayans movie would be used in reference to our Fed Chief?
Janet the Bandit – clearly this is the name used by her critics. Whether it’s warranted remains to be seen.
