The first woman to be appointed chair of the Federal Reserve Board of Governors, Dr. Janet Yellen will be in town on Thursday, as she headlines The National Investment Center for Seniors Housing & Care (NIC) Fall Conference.
Yellen will give a speech at 8am local at the Sheraton Grand, where she will share insights on the current economic environment and how future changes in the global economy will influence domestic policy, regulatory changes, labor markets, interest rates, and the healthcare sector. The speech will be followed by a Q&A moderated by Kathleen Hays, the Global Economics and Policy Editor for Bloomberg Television and Radio.
“Dr. Yellen’s deep knowledge of economic trends and hands-on experience managing the world’s largest economy will be very valuable in helping seniors housing and care leaders anticipate, and prepare for, the challenges ahead,” said Brian Jurutka, NIC president and CEO.
Prior to her four-year term (2014-2018) as Fed Chair, Dr. Yellen served as Vice Chair of the Federal Reserve’s Board of Governors and, from 2004 to 2010, as President of the Federal Reserve Bank of San Francisco. She was preceded by Ben Bernanke and succeeded by current Fed Chief (and frequent Donald Trump scapegoat) Jay Powell.
Prior to her stint in San Francisco, Yellen served as Chair of the White House Council of Economic Advisers under President Bill Clinton; and as a business professor at the University of California, Berkeley.
Her Q&A is expected to be a lively one, no doubt with plenty of discussion about inverted yield curves and the potential future direction of the Fed when it comes to monetary policy.
A yield curve inversion occurs when the rate of return on the 10 year note drops below the yield on a short term Treasury (3 month). It signals investor momentum towards liquidity and thus bearish sentiment in the stock market at large.
Since the middle of last century, every recession has been preceded by an inverted yield curve. However, there have been inversions that did not immediately preceded an economic slowdown. With the stock market having been so historically high for so long during much of 2018, it’s clear that a correction is inevitable sometime soon.
It will be interesting to hear what Janet Yellen has to say on that, as well as her take on whether the Fed is likely to tighten or ease in 2019. After nine rate hikes between December 2015 and December 2018, the Fed held still this past January.
Will this neutral stance continue? It will be fascinating to heat Dr. Yellen’s call come Thursday. For more information go to the homepage for the 2019 NIC Fall Conference
Paul M. Banks runs The Sports Bank.net, which is partnered with News Now. Banks, the author of “No, I Can’t Get You Free Tickets: Lessons Learned From a Life in the Sports Media Industry," regularly appears on WGN CLTV and co-hosts the "Let's Get Weird, Sports" podcast on SB Nation.
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