US Federal Reserve Has a New ChairWoman

理财投资Aurora

Along with “History”, “mankind”, Chairman is another gender biased word. But Janet Yellen has challenged this status quo by becoming the first US Federal Reserve Chairwoman. After the 2008 financial meltdown, male have been blamed for trading on testosterone. A slew of women rose to the power in financial industry, which was previously dominated by male. Here list  just a few:

Janet Yellon, Chairwoman of US Federal Reserve

Christine Lagarde, Managing Director of International Monetary Fund

Mary Schapiro, Chairof Securities & Exchange Commission

Mary Callaham Erdoes, CEO of JP Morgan Asset Management

Female are just as intelligence, determined and tough minded as their male counterpart. The slam “Big Swinging Dick” (pardon my language) didn’t come from nowhere. It depicts a world used to be dominated by male and blocking any female advancement regardless of qualification and achievement, known as “Glass Ceiling”. Fortunately, the situation has been slowly changing especially after 2008 fiasco, and pressured by public opinions to have more female on the top.

There are tough challenges facing Yellen: persistently week economic fundamentals and signs of over heating market. Most imminent tasks: the unavoidable taper of Quantitative Ease (though postponed for the moment), normalizing interest rate, normalizing inflation rate, stabilizing the market.

Each time after US Fed opened his mouth, it will cause a mini earthquake in the market. Let’s see if being a female as the chairwoman will have the effect of calming the market; if she can prolong this market cycle to be like the era prior to tech bubble crash.