The Yellen Legacy Is in Trump's Hands

A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration

Janet Yellen's legacy will be written and rewritten in coming years as the results of the policies she oversaw become clearer.

This Fed chair pick might matter for the markets than previous ones. But at the same time, it also matters more than previous ones in terms of the sitting chair’s legacy. There are two wildly divergent potential paths available. For her legacy’s sake, Yellen prefers the status quo.

Samuel E. Rines is the Chief Economist at Avalon Advisors in Houston, Texas.

Image: A U.S. Dollar note is seen in this June 22, 2017 illustration photo. REUTERS/Thomas White/Illustration

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