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She would keep continuity with the -- so basically we know what Janet would -- -- Keep the stimulus coming right is that good or bad thing for the markets -- marks a small business advisor and the owner of the marks group.
Joining us from Philadelphia hygiene so always yelling -- you're number -- How happy I mean I've had I think yellen is actually the front runner not -- -- -- number two I think she will.
She she is is.
Time she's gonna have some tough confirmation hearings ahead of her.
But my prediction is that she will be nominated she will be of an -- here.
You don't think there's going to be a wild card here maybe you know I'm Janet Yellen would be the first female.
Fed chief maybe we'll have the first African American fed chief and Roger Ferguson.
That's possible Emmy for his name has been kind of bandied about a few other names have been -- you talked about -- -- By the campaign for -- has been has been pretty pretty heavy pretty intense and that -- certainly is qualified for the job she has been his dream job -- she knows the president quite well.
So you know she is she's definitely the front runner and yet again my guess that I I I would be very surprised if she's not the one that's nominated.
Why -- it if she's close with the president why wouldn't if he'd made her number one before it Larry Summers has made him.
Well I mean -- the president had a pretty deep relationship of Larry Summers and in their relationship went back pretty far.
You know from what I hear and what I read -- and the people I talked to in DC.
The president was a little bit kind of taken aback at the amount of campaigning.
That was going on for yellen is how so that kind of pushed him back a little bit from us and that's why you seem like he was leaning towards -- Summers but.
They're never even though indications were that Summers was sort of a front runner on the president's mind.
He wasn't necessarily he was nominated yet for sure it.
So we don't know here for sure if he was going to be the person that would be nominated by the president but.
He's getting a lot of pressure.
A lot of influential people in the Democratic Party they really want to see I Jenny -- as the Fed chief of the big reason why is that.
-- -- is all about jobs she's all about unemployment she is said and has been on record as saying that.
On the Fed's role is to increase employment and decrease unemployment even if that's.
You know look you know they have with -- higher interest rates are higher inflation because today.
The Fed's main role -- -- -- is to keep an eye on unemployment so a lot of people the Democratic Party a lot of the labor supporters of the president.
They like those words what's your take on policy that.
-- well you know she is absolutely continuation of what of what Ben Bernanke has already started I mean she's always been about easy.
And the big question is particularly for me as a small business owner and and all my clients that run businesses as well.
-- what does that mean you -- for companies you know there's going to be continued easing.
I mean alas I mean you're talking about what the effects this has on the markets.
HBO no -- complaining when the stock market goes up.
It certainly gives a lot of psychological confidence trying to meet with my customers bring more apt to buy the software that I sell when they're -- -- much richer in the stock market is high.
There I I don't really -- you want this we talk about down 151000.
Because it's a great.
Confidence boost its if it's clear milestone.
Angry when you look at your 401K C rise of 20% this year you're happy.
You might feel more confident that I I truly think we've gotten to the point.
Where you work -- used by what's going on and we don't anything believe the stock market gains.
I think Laura you're you're a 100% right about -- being confusion out there and having the average person looks at the stock market and really doesn't know what's behind it I mean they they'll look into what.
Get the real number is the Fed's balance sheet in the Fed has -- three trillion dollars for half trillion dollars of reserves on its balance sheet right now and.
How they don't want that down -- and if they don't winded down the right way.
-- it could turn into some inflationary pressures and therefore could be you know interest rate hike to manage that and if that's what managed.
The right way.
That impact small businesses directly.
-- impacts how much for paying people on how much -- paying for products that impacts what we're gonna borrow how much cost borrowing is whether we can make investments or not.
These are things that a lot of small businesses and -- to really aware of the need to keep an eye on.
Is exactly what is Janet Yellen is planned for winding down all of this -- and we really haven't heard that yet.
Now we haven't heard that from any of potential candidates.
What is your take -- maybe.
If -- Greinke getting it they're tired.
It's funny we talk about Ben Bernanke he's never really publicly said that he.
He's not continuing on at the Fed it's always been.
Right like rumor that he doesn't want to do it or you know maybe he's telling that to his friends personally but -- never -- any public announcement that he's not want to continue one of the -- so.
I guess that means he's he's not going to because he's certainly not.
I'm -- records going on has said and not so many words that.
That probably wouldn't happen but you're right there's been nothing declared it actually let's -- listen to Ben Bernanke addressing his own plans yesterday let's take lessons of the -- If you'll indulge me just a little longer I prefer not to talk about my plans at this point.
I hope to have more information for you -- some reasonably soon date that it today I wanna focus on monetary policy I prefer not to talk by my own plants.
Harry helpful though still hopeful knowing no more re eighteen and can -- your thoughts on doesn't.
I'm done I don't think.
Yeah the president thing enough so many words you know I mean no one is saying it any words whether or not Bernanke is to chipper and daughter not.
I think you're right I mean you know it smells like he's not gonna continue on but I I really was people would be more definitive -- Yes I.
He is day I he's getting -- very -- that's really got you on this I don't know.
The other names out there Christina Roma or Donald -- -- want to comment or or even Tim Geithner to do a comment any of those three.
The only one that I actually know of his record is is Geithner I really because I'm not that much of a fed watcher I tend to watch the people write about the people that are really you know kind of out there operating can have the job.
I'm Geithner secretary of the treasury.
You know we do have some of his track record everything I know about him and everything I read in the people I know that -- -- that he does not want the job.
In fact personally I I get the impression he's through with Washington altogether after what you went through -- -- for financial crisis that.
I would be stunned.
It that'll only be nominated he would accept that nomination I just don't think.
I am an -- and I ain't gonna be well we will find out in general before January his Bernanke the sun won't the end of January GMAC stake you so much -- today.
You -- don't take care at.
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