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Yellen has always been too quick to fold, and we saw that in her time as fed chair. Wall Street and silicon Valley insiders know this, which might be why they

Yellen has always been too quick to fold, and we saw that in her time as fed chair. Wall Street and silicon Valley insiders know this, which might be why they immedieately tried to put their PR campaign's focus on her (rather than Jerome Powell, who is a little bit steadier at the poker table).

alecco 4y ago
Yellen was the 11th President of the SF Fed [1] and the current president is her protégé [2]. Greg Becker (SVB CEO & president) was in SF Fed board of directors until Friday [2]. He successfully lobbied for less regulations for his bank. The SF Fed looked the other way. [1] https://en.wikipedia.org/wiki/Janet_Yellen https://en.wikipedia.org/wiki/Janet_Yellen [2] https://en.wikipedia.org/wiki/Mary_C._Daly https://en.wikipedia.org/wiki/Mary_C._Daly [3] https://www.reuters.com/markets/us/ceo-failed-silicon-valley-bank-no-longer-director-sf-fed-2023-03-10/ https://www.reuters.com/markets/us/ceo-failed-silicon-valley...
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RayVR 4y ago
Are you a trader? I traded global rates markets from 2012-2020 and yellen was probably the best central bank head I saw. She was the most stable and consistent. I would argue she was the least beholden to market pressure out of any bank head, except perhaps Draghi, who just did not care much the last couple years. She was also the least likely to react to congress or press questions and cause unnecessary market volatility.
- AdamN 4y ago
  Yeah this previous comment is probably just good ol' fashioned misogyny. There's no consensus that Yellen is quick to fold from the previous crisis - these people also have real responsibilities so it's not necessarily 'folding' anyway to respond to stakeholders.
  - aetherane 4y ago
    There is also no evidence that the previous comment was made due to misogyny.
- pclmulqdq 4y ago
  I was in Wall St for the end of her tenure. I admired her handling of the beginning of her time as Fed chair (not raising rates too early when Wall Street was yelling for it), but IMO she ended up folding to pressure from politicians and Silicon Valley types to keep rates low for far too long. She was very good at not listening to the market (which is arguably a bad thing - when your rate target is 0-25 bps and rates are trading at ~20 bps, maybe you should listen?) or to the traditional Wall Street types, though.
yeahsure22 4y ago
Wow you managed to load a ton of sexism into a short comment!
- alvah 4y ago
  Parent commenter mustn't have received the memo that women are immune to criticism?
- a2800276 4y ago
  I'm truly curious why you perceive the parent comment to be sexist? Apart from using "her" pronouns, I don't perceive any mention of gender... What am I missing?
- vinyl7 4y ago
  If you saw sexism in that comment, then I'm pretty sure you're the one with the sexism issue

alecco 4y ago

Yellen was the 11th President of the SF Fed [1] and the current president is her protégé [2]. Greg Becker (SVB CEO & president) was in SF Fed board of directors until Friday [2]. He successfully lobbied for less regulations for his bank. The SF Fed looked the other way. [1] https://en.wikipedia.org/wiki/Janet_Yellen https://en.wikipedia.org/wiki/Janet_Yellen [2] https://en.wikipedia.org/wiki/Mary_C._Daly https://en.wikipedia.org/wiki/Mary_C._Daly [3] https://www.reuters.com/markets/us/ceo-failed-silicon-valley-bank-no-longer-director-sf-fed-2023-03-10/ https://www.reuters.com/markets/us/ceo-failed-silicon-valley...

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RayVR 4y ago

Are you a trader? I traded global rates markets from 2012-2020 and yellen was probably the best central bank head I saw. She was the most stable and consistent. I would argue she was the least beholden to market pressure out of any bank head, except perhaps Draghi, who just did not care much the last couple years. She was also the least likely to react to congress or press questions and cause unnecessary market volatility.

AdamN 4y ago
Yeah this previous comment is probably just good ol' fashioned misogyny. There's no consensus that Yellen is quick to fold from the previous crisis - these people also have real responsibilities so it's not necessarily 'folding' anyway to respond to stakeholders.
- aetherane 4y ago
  There is also no evidence that the previous comment was made due to misogyny.
pclmulqdq 4y ago
I was in Wall St for the end of her tenure. I admired her handling of the beginning of her time as Fed chair (not raising rates too early when Wall Street was yelling for it), but IMO she ended up folding to pressure from politicians and Silicon Valley types to keep rates low for far too long. She was very good at not listening to the market (which is arguably a bad thing - when your rate target is 0-25 bps and rates are trading at ~20 bps, maybe you should listen?) or to the traditional Wall Street types, though.

yeahsure22 4y ago

Wow you managed to load a ton of sexism into a short comment!

alvah 4y ago
Parent commenter mustn't have received the memo that women are immune to criticism?
a2800276 4y ago
I'm truly curious why you perceive the parent comment to be sexist? Apart from using "her" pronouns, I don't perceive any mention of gender... What am I missing?
vinyl7 4y ago
If you saw sexism in that comment, then I'm pretty sure you're the one with the sexism issue