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As Janet Yellen stands down, a crisis is coming for the US federal reserve

We will miss Dr Yellen—more than perhaps most people currently realise

By George Magnus  

Dr Yellen's leaving should trouble us all—especially with the crisis to come. Photo: PA

Janet Yellen, who took up her position as Chair of the Federal Reserve in February 2014, gave what was probably her last official testimony in this capacity to Congress last week. She will chair just two more meetings of the Federal Open Market Committee. We will miss her, more than perhaps most people think currently. For, as I have pointed out here before, the crisis she would normally have managed will now fall to her successor,…

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