Yellen to join Brookings Institution after leaving Fed

Trump credited with success, but scandal not far behind

Yellen to start out Monday at Brookings Establishment, following Bernanke

Yet her grade as head of the Fed is a decided "incomplete".

She and her colleagues enacted programs and policies that have brought the economy and financial system back from the brink.

Yellen was appointed by Barack Obama as the first woman to lead the Fed.

But Yellen said that she was grateful for the Fed career she did have which covered not only a four-year term as Fed chair but also serving as Fed vice chair for four years before that and also service as president of the Fed's San Francisco regional bank. That was accomplished under Bernanke's leadership, so by 2014, when Yellen took over, the Fed's post-crash monetary strategy was well established.

"The thing she'll be mostly known for is steering the economy into a fabulous position", said Princeton economist and former Fed Vice Chairman Alan Blinder.

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As the Fed chair, Yellen has guided the economy toward a healthy path.

Transcripts of Fed policy meetings from the fall of 2008, when Lehman Brothers' collapse ignited the most risky phase of the financial crisis, show that Ms. Yellen helped drive the Fed to unleash just about everything in its economic arsenal, including slashing its key short-term interest rate to a record low near zero.

Under Ms Yellen's stewardship, the USA economy has seen its strongest six months of economic activity since 2014.

Asked to assess Yellen by the presidential standard - are you better off now than you were four years ago? The labor market is nearing full employment, inflation's mild, and Wall Street bulls are running. He will be sworn in Monday as her successor. Additionally, Wells Fargo plans refunds for customers who were charged extra fees to extend rate locks on mortgages because of delays caused by the bank. It is the expectation of many analysts that there will be a raise in rates at this point, which appears to have been factored into United States dollars exchange rates.

"His biggest challenge will be leading the further calibration of interest rates when the USA economy is late cycle amid a synchronized global economic upswing and fiscal stimulus is on its way", Kathy Bostjancic of Oxford Economics told AFP. The current unemployment rate of 4.1 percent is a 17-year low; the annual core inflation rate is nearing the Fed's target of 2 percent, with no sign of significantly exceeding it; wages rose 2.6 percent last year.

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