US Dollar Takes a Hit as Janet Yellen Leaked to be Nominee to Replace Donald Kohn as Federal Reserve VP

By Trader Mark
12 March 2010 @ 09:15 am EDT

The US dollar is suffering some damage this morning, as Donald Kohn is set to retire as Federal Reserve Vice President, and word leaked out last night that easy money Kohn [Sep 12, 2009: Federal Reserve's Kohn: We Plan to Keep Throwing Kerosene on the Fire] is being replaced by easier money Janet Yellen. How easy?  Yellen said if she could make interest rates go below zero, she would.  Let us be thankful the laws of mathematics provide some small form of protection against these people.  Apparently ex NY Fed head Timothy Geithner is at the head of the search committee, and it was a challenge finding a larger dove than Kohn anywhere in these 50 states, but Geithner somehow managed to.  Free money to us all....

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