Yellen, denied second term as Fed chair, announces resignation
Does not fill me with hope for the future of the Fed's independence.
Federal Reserve chief Janet Yellen said Monday she will leave the central bank once her term as chair ends in February, wrapping up a pivotal tenure in which the Fed began to reverse its extraordinary, decadelong support for the economy.
Yellen's departure from the Fed long before her term as a governor ends in 2024 gives President Donald Trump another big opportunity to shape the world's most important central bank.
Yellen's departure will mean the loss of decades of institutional knowledge. She has been part of the central bank's leadership since 1994, with a break from 1997 to 1999, when she served as chair of the Council of Economic Advisers under former President Bill Clinton.
Does not fill me with hope for the future of the Fed's independence.