Born in Brooklyn (NYC), Janet Yellen is an American economist and professor emeritus. In the field of higher education, Emeritus is an honorary title awarded in consideration of the work and services provided. This title also allows its recipient to continue to perform some academic or scientific activities.
From 1997 to 1999, Janet Yellen was president of the “Council of Economic Advisers” and from 2004 to 2010, she served as president of the Federal Reserve Bank of San Francisco. On October 4, 2010, she became vice president of the Board of Governors of the Federal Reserve of the United States (FED). On October 9, 2013, she was appointed by Barack Obama to become president of the Federal Reserve after the January 31, 2014 inauguration.
Yellen’s much anticipated intervention has caused the euphoria and stimulation of global markets. She has announced her favorable positioning with regards to asset purchases and thus reassured the markets about it. Moreover, following this announcement, the major indexes have reached unexpected records. This is not the first time that we have seen this increase phenomenon within the financial market; in recent months when a central bank representative spoke, the curves started to rise dramatically and have struggled to find a specific stability in the stock market. This intervention is a strong factor in the market optimism this Thursday because on that day the disappointing growth performance of the Euro Zone had no negative or positive effect on this weekend’s trend. The GDP of the Euro Zone has barely achieved a growth of 0.1%.
This speech comes at the right time and provides investors with optimism thanks to which they are keen to speculate in mass in assets that showed a decline or stability a few hours earlier.
The currency market, especially the euro (EUR), showed a sharp decline against the U.S. dollar (USD).
The OptionSmarter broker tells us that these traders have followed the trend after the speech of the future president of the FED and have also speculated about the increase of these assets as its trend indicator directly and clearly point it out. Huge profits were made this Thursday in global markets and it is reassuring to feel that the crisis is now behind us.
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