Yellen for the Win! The Sequel

Wed, SEPT 20th, 2017

Today marks the second time that Fed Chairwoman Janet Yellen has entered uncharted territory. The first was early on in her term winding down years of extraordinary quantitative easing (i.e., “tapering” QE) and ending ZIRP (zero interest rate policy). With today’s announcement the second major undertaking on Yellen’s watch will now commence. Below is our quick take on today’s Fed meeting, via our Twitter account. Of particular note, Yellen – in our view – as it pertains to her work and legacy as chairwoman of the Federal Reserve can proudly proclaim mission accomplished! (though, perhaps, not yet complete).

Meanwhile in show of confidence in both Yellen and her (and her team’s) policy strategy U.S. stocks are up modestly on the news, as are bond yields (read here for our take on the possible impacts of “balance sheet normalization”). Like Bernanke before her, regardless of what happens with Yellen at end of term in January 2018 we thank her for her smart and sober service, steady hand, and masterful guidance to our economy. Not only has she been outstanding as Fed chair, but her shattering of the glass ceiling for female leaders in U.S. central banking is equally as invaluable as her prodigious imprint on monetary policy. *Side note: being selected as an interviewee for that seminal American Banker article – along with Barney Frank, Alice Rivlin, and Christina Romer – is one of my proudest media moments over the years*

Jason L. Ware, MBA / Chief Investment Officer
Albion Financial Group
jware@albionfinancial.com
(801) 487-3700

About Albion Financial

Established in 1982, Albion Financial Group is an independent, fee-only wealth advisor and investment manager located in Salt Lake City, Utah. Over the last three decades Albion Financial has become a nationally recognized, locally respected, award-winning provider of customized wealth management services. From the firm’s humble beginnings, Albion has grown into one of the Utah’s largest privately held wealth advisory firms. Albion’s suite of investment services includes in-depth market research, customized portfolio management, and comprehensive financial advising. As a fiduciary and as a fee-only advisor, Albion measures success by how well we have done in guiding our clients to achieve their financial goals; not by the amount commissions received or investment products sold.