2014-03-20 08:33:59 - Washington : Janet Yellen will create a buzz around into the banking sector when she will begin her first meeting as the Fed Chair, a position she assumed on February 3 this year.
Yellen took over the charge when Ben Barnanke after a strong eight-year profile called it quits as the Fed Chair.
Yellen’s action is believed to take up Barnanke’s approach of keeping interest rates low in parallel to the Fed’s economic stimulus.
Analysts are of the view that Fed will announce a third straight reduction in the monthly pace of its bond purchases from $65 billion to $55 billion.
Reductions are supposed to continue this year until the bond purchase end completely by December 15.
The Fed’s bond purchases are meant to keep the long term borrowing rates low to boost growth, a decision signaling its belief that economy is showing consistent improvement.
Yellen spoke of continuing policy of Bernanke,
under whom she served as Vice Chair.
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