Alan Greenspan, an economist who served as chairman of the Federal Reserve under four US presidents, died on Monday, his wife Andrea Mitchell said. He was 100. Greenspan died at his home due to complications of Parkinson’s disease, Mitchell said in a statement. As Federal Reserve chairman from 1987 to 2006, he presided over the longest sustained period of US economic growth in a generation.&nbsp;Greenspan’s reign at the central bank coincided with the so-called Great Moderation, a period of stability from the mid-1980s until 2007 that was marked by low inflation, stock market gains and strong economic growth.&nbsp;“His extraordinary 18 years as chairman left behind an enduring legacy, and his dedication to the institution, the field of economics and public service continues to inspire generations of central bankers,” John Williams, president and CEO of the Federal Reserve Bank of New York, said in a statement.&nbsp;Also Read: <a href="https://www.wionews.com/world/vance-says-iran-has-agreed-to-resume-iaea-nuclear-inspections-probably-by-this-week-1782143460029">Vance says Iran has agreed to resume IAEA nuclear inspections, probably by ‘this week’</a>&nbsp;Greenspan’s tenure was also laced with several financial crises, including the 1987 stock market crash and the dot-com collapse in the early 2000s.&nbsp;&nbsp;In 1996, Greenspan famously coined the phrase “irrational exuberance” to describe bubbles fuelled by unbridled investor optimism, alluding to that era’s craze for internet company stocks.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/business-economy/cred-founder-kunal-shah-becomes-global-ceo-of-whatsapp-meta-invests-900-million-in-fintech-startup-1782137297377">CRED founder Kunal Shah becomes global CEO of WhatsApp as Meta invests $900 million in startup</a>&nbsp;Greenspan’s legacy is also linked to the 2008 global financial crisis and the ensuing Great Recession, although the economic collapse occurred after he ended his final term as Fed chair in early 2006. Yet some critics pointed to his “loose money” policies in the preceding years as contributing to the subprime housing crisis that ultimately caused the greatest US economic collapse since the Great Depression.&nbsp;However, Greenspan defended his decisions leading up to the Great Recession and said that he was a victim of “revisionist history” and that he had warned about subprime mortgages and other red flags brewing in the housing market.&nbsp;Also Read: <a href="https://www.wionews.com/india-news/14-students-killed-in-fire-at-animation-centre-in-lucknow-many-jump-from-1st-floor-1782130828955">15 killed in fire at animation centre in Lucknow; many jump off 1st floor</a>&nbsp;As Fed chair, Greenspan also became known for offering often cryptic economic commentary that lawmakers, economists and investors found hard to interpret.&nbsp;&nbsp;Greenspan was born in New York City on March 6, 1926, and exhibited mathematical talent as a child. He studied economics at New York University, where he eventually earned a bachelor’s, master’s and doctoral degree.His first job was with the National Industrial Conference Board, after which he set up his economic consulting firm, Townsend-Greenspan &amp; Co.&nbsp;&nbsp;Also Read: <a href="https://www.wionews.com/india-news/6-shiv-sena-ubt-rebel-mps-join-eknath-shinde-s-shiv-sena-1782129323513">6 Shiv Sena (UBT) rebel MPs join Eknath Shinde's Shiv Sena</a>&nbsp;Later, he served as chairman of the President’s Council of Economic Advisers under President Gerald Ford and as a member of President Ronald Reagan’s Economic Policy Advisory Board.&nbsp;&nbsp;Greenspan was appointed Fed chair in 1987 by President Reagan, a role he held under three other presidents: George HW Bush, Bill Clinton and George W Bush. He retired from the Federal Reserve Board in 2006.

Alan Greenspan’s reign coincided with the so-called Great Moderation, a period of stability from the mid-1980s until 2007 that was marked by low inflation, stock market gains and strong economic growth. His tenure also witnessed crises, like the 1987 stock market crash and the dot-com burst.

Alan Greenspan, an economist who served as chairman of the Federal Reserve under four US presidents, died on Monday, his wife Andrea Mitchell said. He was 100. Greenspan died at his home due to complications of Parkinson’s disease, Mitchell said in a statement. As Federal Reserve chairman from 1987 to 2006, he presided over the longest sustained period of US economic growth in a generation. Greenspan’s reign at the central bank coincided with the so-called Great Moderation, a period of stability from the mid-1980s until 2007 that was marked by low inflation, stock market gains and strong economic growth. “His extraordinary 18 years as chairman left behind an enduring legacy, and his dedication to the institution, the field of economics and public service continues to inspire generations of central bankers,” John Williams, president and CEO of the Federal Reserve Bank of New York, said in a statement. Also Read: Vance says Iran has agreed to resume IAEA nuclear inspections, probably by ‘this week’ Greenspan’s tenure was also laced with several financial crises, including the 1987 stock market crash and the dot-com collapse in the early 2000s. In 1996, Greenspan famously coined the phrase “irrational exuberance” to describe bubbles fuelled by unbridled investor optimism, alluding to that era’s craze for internet company stocks. Also Read: CRED founder Kunal Shah becomes global CEO of WhatsApp as Meta invests $900 million in startup Greenspan’s legacy is also linked to the 2008 global financial crisis and the ensuing Great Recession, although the economic collapse occurred after he ended his final term as Fed chair in early 2006. Yet some critics pointed to his “loose money” policies in the preceding years as contributing to the subprime housing crisis that ultimately caused the greatest US economic collapse since the Great Depression. However, Greenspan defended his decisions leading up to the Great Recession and said that he was a victim of “revisionist history” and that he had warned about subprime mortgages and other red flags brewing in the housing market. Also Read: 15 killed in fire at animation centre in Lucknow; many jump off 1st floor As Fed chair, Greenspan also became known for offering often cryptic economic commentary that lawmakers, economists and investors found hard to interpret. Greenspan was born in New York City on March 6, 1926, and exhibited mathematical talent as a child. He studied economics at New York University, where he eventually earned a bachelor’s, master’s and doctoral degree. His first job was with the National Industrial Conference Board, after which he set up his economic consulting firm, Townsend-Greenspan & Co. Also Read: 6 Shiv Sena (UBT) rebel MPs join Eknath Shinde's Shiv Sena Later, he served as chairman of the President’s Council of Economic Advisers under President Gerald Ford and as a member of President Ronald Reagan’s Economic Policy Advisory Board. Greenspan was appointed Fed chair in 1987 by President Reagan, a role he held under three other presidents: George HW Bush, Bill Clinton and George W Bush. He retired from the Federal Reserve Board in 2006.

Alan Greenspan’s reign coincided with the so-called Great Moderation, a period of stability from the mid-1980s until 2007 that was marked by low inflation, stock market gains and strong economic growth. His tenure also witnessed crises, like the 1987 stock market crash and the dot-com burst.

Alan Greenspan, architect of modern US economy and Fed chair under 4 presidents, dies at 100

Is Kevin Warsh going to be a markets-friendly and an independent Fed chair? The market seems to think so, but not in the short term. In this next report, we decode the dichotomy Warsh faces amid a historic energy crisis due to the ongoing Iran war.

Kevin Warsh Faces a Baptism by Fire 

US President Donald Trump on Friday (May 22) participated in the swearing-in ceremony of Kevin Warsh as the new Federal Reserve Chairman. Trump added that he wants Warsh to serve “totally independent”. Trump also urged the central bank head to let the economy “boom”. Donald Trump, who nominated Kevin Warsh for the position, has repeatedly pressured the Federal Reserve to lower interest rates and often publicly criticised his predecessor, Jerome Powell.“Honestly, I really mean this, this is not said in any other way. I want Kevin to be totally independent,” Trump said. “I want him to be independent and just do a great job. Don't look at me, don't look at anybody, just do your own thing, and do a great job.”Trump argued that the Federal Reserve had drifted away from its primary responsibilities in recent years by focusing on issues such as climate policy and diversity, equity and inclusion (DEI) initiatives instead of its core economic mandate.“In the eyes of many, the Fed lost its way in recent years. It became distracted by concerns far removed from its core mission and mandate, drifting into matters such as climate policy and DEI initiatives,” he added.He also blamed the previous administration’s deficit spending and the Fed’s policy direction for triggering what he described as historically high inflation in the United States.“With the Fed straying from its mandate, while the last administration blew out the deficit, Americans suffered the worst inflation that we had in history. It was the worst inflation we've ever had,” he said.Praising Warsh's economic outlook, Trump said, “Kevin understands that when the economy is booming, that's a good thing. We want to stop inflation, but we don't want to stop greatness.”“We have to go crazy, just let it boom. We want it to boom.”

US President Donald Trump swore in Kevin Warsh as new Fed Chair, urging him to remain “totally independent” while criticising the Federal Reserve’s recent focus on climate and DEI policies.

US President Donald Trump on Friday (May 22) participated in the swearing-in ceremony of Kevin Warsh as the new Federal Reserve Chairman. Trump added that he wants Warsh to serve “totally independent”. Trump also urged the central bank head to let the economy “boom”. Donald Trump, who nominated Kevin Warsh for the position, has repeatedly pressured the Federal Reserve to lower interest rates and often publicly criticised his predecessor, Jerome Powell. “Honestly, I really mean this, this is not said in any other way. I want Kevin to be totally independent,” Trump said. “I want him to be independent and just do a great job. Don't look at me, don't look at anybody, just do your own thing, and do a great job.” Trump argued that the Federal Reserve had drifted away from its primary responsibilities in recent years by focusing on issues such as climate policy and diversity, equity and inclusion (DEI) initiatives instead of its core economic mandate. “In the eyes of many, the Fed lost its way in recent years. It became distracted by concerns far removed from its core mission and mandate, drifting into matters such as climate policy and DEI initiatives,” he added. He also blamed the previous administration’s deficit spending and the Fed’s policy direction for triggering what he described as historically high inflation in the United States. “With the Fed straying from its mandate, while the last administration blew out the deficit, Americans suffered the worst inflation that we had in history. It was the worst inflation we've ever had,” he said. Praising Warsh's economic outlook, Trump said, “Kevin understands that when the economy is booming, that's a good thing. We want to stop inflation, but we don't want to stop greatness.” “We have to go crazy, just let it boom. We want it to boom.”

Donald Trump swore in Kevin Warsh as new Fed Chair, urging him to remain “totally independent” while criticising the Federal Reserve’s recent focus on climate and DEI policies.

‘I want him to be totally independent’: Trump swears in Kevin Warsh as new Fed chair

The new Trump administration may cause friction, but Federal Reserve Chair Jerome Powell has played down the likelihood of conflict.

Powell also said that policymakers will proceed with caution in their efforts to cut interest rates further.

The Fed's preferred measure of underlying inflation increased on an annual basis in October.

According to Powell, the risks to the job market have diminished. That offers support to Powell's comments on caution on further rate cuts. The fed policymakers next meet on December 17th and 18th.

However, there was no indication from the fed chair as to whether he supported a rate cut in December. Several economists predict the Fed to cut rates by a quarter point this month before a pause in January.

Previously, trump and his administration have been negative on the fed chief. At one point&nbsp;during his first term, trump wanted to fire Powell.

However, when asked about Scott Bessent, the treasury chief and the president-elect, Powell said he is confident in his ability to collaborate with the next government.

Powell said, "I fully expect that we'll have the same general kinds of relationships, institutional relationships, for example, with the council of economic advisers, but most importantly with the treasury department."

On Bessant, the fed chief said, "Confident that I will have the same kind of relationship with him once he's confirmed as I've had with other treasury secretaries." Bessent had previously proposed the concept of appointing a "shadow-fed chair" to weaken the leader's sway over the financial markets.

The suggestion was for a shadow leader even before Powell's term, which ends in 2026. However, Powell does not think the incoming administration would pursue that idea.

He said, and I quote him here: "I don't think that's on the table at all."

(With inputs from the agencies)

The new Trump administration may cause friction, but Federal Reserve Chair Jerome Powell has played down the likelihood of conflict. Powell also said that policymakers will proceed with caution in their efforts to cut interest rates further.

The new Trump administration may cause friction, but Federal Reserve Chair Jerome Powell has played down the likelihood of conflict. Powell also said that policymakers will proceed with caution in their efforts to cut interest rates further. The Fed's preferred measure of underlying inflation increased on an annual basis in October. According to Powell, the risks to the job market have diminished. That offers support to Powell's comments on caution on further rate cuts. The fed policymakers next meet on December 17th and 18th. However, there was no indication from the fed chair as to whether he supported a rate cut in December. Several economists predict the Fed to cut rates by a quarter point this month before a pause in January. Previously, trump and his administration have been negative on the fed chief. At one point during his first term, trump wanted to fire Powell. However, when asked about Scott Bessent, the treasury chief and the president-elect, Powell said he is confident in his ability to collaborate with the next government. Powell said, "I fully expect that we'll have the same general kinds of relationships, institutional relationships, for example, with the council of economic advisers, but most importantly with the treasury department." On Bessant, the fed chief said, "Confident that I will have the same kind of relationship with him once he's confirmed as I've had with other treasury secretaries." Bessent had previously proposed the concept of appointing a "shadow-fed chair" to weaken the leader's sway over the financial markets. The suggestion was for a shadow leader even before Powell's term, which ends in 2026. However, Powell does not think the incoming administration would pursue that idea. He said, and I quote him here: "I don't think that's on the table at all." (With inputs from the agencies)

Fed’s Powell downplays tension with the incoming Trump administration

As the US prepares for Tuesday's presidential election, the Federal Reserve is poised to make a more predictable decision on interest rates just two days later. With inflation showing signs of easing, the Fed is expected to cut interest rates for the second time this year according to a detailed report by Associated Press.

Despite potential uncertainty surrounding the election results, analysts believe this will not impact the Fed's decision-making process during its upcoming two-day meeting, concluding on November 7, the Associated Press report elaborated further.

The Fed, led by Chair Jerome Powell, is anticipated to reduce its benchmark rate by a quarter-point to approximately 4.6 per cent. This follows a half-point cut in September. Economists predict another rate cut in December, with further reductions likely next year, aimed at lowering borrowing costs for consumers and businesses.

Fed’s approach reflects a shift towards a lower inflation environment<o:p></o:p>

Traditionally, the Fed lowers rates to stimulate a sluggish economy and boost a weak job market. However, the current economic landscape is different: growth is robust, with an unemployment rate of just 4.1 per cent. Despite recent disruptions from natural disasters and strikes affecting job growth, the Fed’s approach reflects a shift toward a "lower-inflation environment" rather than a direct response to economic weakness.

The Fed's aggressive rate hikes over the past year, prompted by soaring inflation that peaked at 9.1 per cent in June 2022, are now giving way to a more cautious stance. Year-over-year inflation has dropped to 2.4 per cent, nearing the Fed's target of 2 per cent. This significant decline suggests that high borrowing rates are no longer necessary and that previous restrictions on lending might be excessive.

Claudia Sahm, chief economist at New Century Advisors, emphasises that the rationale for maintaining elevated rates has dissipated as inflation concerns have subsided. Most Fed officials are advocating for gradual rate reductions, with discussions centered around finding the "neutral" rate that neither stimulates nor restrains economic growth. The Fed's rate-setting committee estimates this neutral rate at about 2.9 per cent, while many economists suggest it may be closer to 3 per cent to 3.5 per cent.

The future course of Fed policy could become more complex once a new president and Congress take office in January. If Donald Trump reclaims the presidency, his proposed economic policies, which include imposing high tariffs on imports and threatening the independence of the Fed, could potentially push inflation in the US economy to higher levels.

Economists have warned that such measures might force the Fed to reconsider its current path of rate cuts, as higher inflation could necessitate a halt or reversal of these reductions.

Powell is likely to address questions about the election's impact on the economy during the upcoming meeting, reiterating the Fed's commitment to apolitical decision-making. Economists remain concerned about Trump’s broader tariff proposals, predicting they could increase inflation significantly, with one report estimating an additional 2 percentage points of inflation next year if implemented.

Hence, as the Fed prepares to cut rates amid cooling inflation, the political landscape may soon introduce variables that complicate future monetary policy. The most powerful central bank in the world will need to navigate these changes carefully to maintain its goals for economic stability and growth.

As the US prepares for Tuesday's presidential election, the Federal Reserve is poised to make a more predictable decision on interest rates just two days later. With inflation showing signs of easing, the Fed is expected to cut interest rates for the second time this year according to a detailed report by Associated Press.

As the US prepares for Tuesday's presidential election, the Federal Reserve is poised to make a more predictable decision on interest rates just two days later. With inflation showing signs of easing, the Fed is expected to cut interest rates for the second time this year according to a detailed report by Associated Press. Despite potential uncertainty surrounding the election results, analysts believe this will not impact the Fed's decision-making process during its upcoming two-day meeting, concluding on November 7, the Associated Press report elaborated further. The Fed, led by Chair Jerome Powell, is anticipated to reduce its benchmark rate by a quarter-point to approximately 4.6 per cent. This follows a half-point cut in September. Economists predict another rate cut in December, with further reductions likely next year, aimed at lowering borrowing costs for consumers and businesses. Fed’s approach reflects a shift towards a lower inflation environment Traditionally, the Fed lowers rates to stimulate a sluggish economy and boost a weak job market. However, the current economic landscape is different: growth is robust, with an unemployment rate of just 4.1 per cent. Despite recent disruptions from natural disasters and strikes affecting job growth, the Fed’s approach reflects a shift toward a "lower-inflation environment" rather than a direct response to economic weakness. The Fed's aggressive rate hikes over the past year, prompted by soaring inflation that peaked at 9.1 per cent in June 2022, are now giving way to a more cautious stance. Year-over-year inflation has dropped to 2.4 per cent, nearing the Fed's target of 2 per cent. This significant decline suggests that high borrowing rates are no longer necessary and that previous restrictions on lending might be excessive. Claudia Sahm, chief economist at New Century Advisors, emphasises that the rationale for maintaining elevated rates has dissipated as inflation concerns have subsided. Most Fed officials are advocating for gradual rate reductions, with discussions centered around finding the "neutral" rate that neither stimulates nor restrains economic growth. The Fed's rate-setting committee estimates this neutral rate at about 2.9 per cent, while many economists suggest it may be closer to 3 per cent to 3.5 per cent. The future course of Fed policy could become more complex once a new president and Congress take office in January. If Donald Trump reclaims the presidency, his proposed economic policies, which include imposing high tariffs on imports and threatening the independence of the Fed, could potentially push inflation in the US economy to higher levels. Economists have warned that such measures might force the Fed to reconsider its current path of rate cuts, as higher inflation could necessitate a halt or reversal of these reductions. Powell is likely to address questions about the election's impact on the economy during the upcoming meeting, reiterating the Fed's commitment to apolitical decision-making. Economists remain concerned about Trump’s broader tariff proposals, predicting they could increase inflation significantly, with one report estimating an additional 2 percentage points of inflation next year if implemented. Hence, as the Fed prepares to cut rates amid cooling inflation, the political landscape may soon introduce variables that complicate future monetary policy. The most powerful central bank in the world will need to navigate these changes carefully to maintain its goals for economic stability and growth.

Fed set to cut rates amid election uncertainty and cooling inflation

As inflation shows signs of slowing, the Federal Reserve faces a complex decision-making landscape regarding its future monetary policies. Recent data indicates that inflation has decreased, with the annual rate dropping to 3.7 per cent in August, down from 3.8 per cent in July. This marks a significant shift from the peak inflation rate of 9.1 per cent recorded by the US economy in June 2022, providing a glimmer of hope for consumers and policymakers alike as detailed in a CNBC report.

Despite this positive trend, the Federal Reserve remains cautious. The latest consumer price index (CPI) report reveals that while inflation is easing, core inflation, excluding volatile food and energy prices, rose by 4.3 per cent year-on-year. This persistent core inflation poses a challenge for the Fed as it weighs the implications of further interest rate adjustments.

The Federal Reserve's recent actions, including a pause in rate hikes during its September meeting, reflect a careful balancing act. While the central bank has raised interest rates aggressively over the past year to combat inflation, the potential for economic slowdown looms large. Many economists anticipate that the Fed may opt for a "higher for longer" approach, keeping interest rates elevated to ensure inflation continues to decline.

The impact of these decisions extends beyond monetary policy. Consumers are already feeling the effects of rising prices on everyday goods and services. The latest CPI report indicates that food prices have increased by 3.6 per cent year-on-year, while energy prices have surged by 5.6 per cent. These rising costs are straining household budgets, leading to increased scrutiny of the Fed's actions.

Moreover, the uncertainty surrounding the Fed's next moves is further complicated by geopolitical factors and global economic conditions. The ongoing conflict in Ukraine and supply chain disruptions continue to exert pressure on prices. As the Fed navigates this challenging environment, market analysts are closely monitoring signals that could indicate the central bank's next steps.

In the face of these developments, consumers are left wondering how the Fed's decisions will affect their financial well-being. With interest rates already at their highest levels in over two decades, borrowing costs for mortgages, car loans, and credit cards are likely to remain elevated. This could lead to a slowdown in consumer spending, which is a critical driver of economic growth.

As the Federal Reserve prepares for its next meeting, the stakes are high. A misstep could have far-reaching consequences for the US economy, impacting everything from inflation rates to employment levels. The central bank's commitment to achieving its inflation target of 2 per cent remains steadfast, but the path to get there is fraught with uncertainty. 

Hence, while inflation may be slowing, the Federal Reserve's next moves are anything but clear. As policymakers grapple with the challenges of the current economic landscape, consumers and businesses alike are left to navigate the implications of these decisions. The coming months will be crucial in determining the trajectory of inflation and the overall health of the economy.

As inflation shows signs of slowing, the Federal Reserve faces a complex decision-making landscape regarding its future monetary policies. Recent data indicates that inflation has decreased, with the annual rate dropping to 3.

As inflation shows signs of slowing, the Federal Reserve faces a complex decision-making landscape regarding its future monetary policies. Recent data indicates that inflation has decreased, with the annual rate dropping to 3.7 per cent in August, down from 3.8 per cent in July. This marks a significant shift from the peak inflation rate of 9.1 per cent recorded by the US economy in June 2022, providing a glimmer of hope for consumers and policymakers alike as detailed in a CNBC report. Despite this positive trend, the Federal Reserve remains cautious. The latest consumer price index (CPI) report reveals that while inflation is easing, core inflation, excluding volatile food and energy prices, rose by 4.3 per cent year-on-year. This persistent core inflation poses a challenge for the Fed as it weighs the implications of further interest rate adjustments. The Federal Reserve's recent actions, including a pause in rate hikes during its September meeting, reflect a careful balancing act. While the central bank has raised interest rates aggressively over the past year to combat inflation, the potential for economic slowdown looms large. Many economists anticipate that the Fed may opt for a "higher for longer" approach, keeping interest rates elevated to ensure inflation continues to decline. The impact of these decisions extends beyond monetary policy. Consumers are already feeling the effects of rising prices on everyday goods and services. The latest CPI report indicates that food prices have increased by 3.6 per cent year-on-year, while energy prices have surged by 5.6 per cent. These rising costs are straining household budgets, leading to increased scrutiny of the Fed's actions. Moreover, the uncertainty surrounding the Fed's next moves is further complicated by geopolitical factors and global economic conditions. The ongoing conflict in Ukraine and supply chain disruptions continue to exert pressure on prices. As the Fed navigates this challenging environment, market analysts are closely monitoring signals that could indicate the central bank's next steps. In the face of these developments, consumers are left wondering how the Fed's decisions will affect their financial well-being. With interest rates already at their highest levels in over two decades, borrowing costs for mortgages, car loans, and credit cards are likely to remain elevated. This could lead to a slowdown in consumer spending, which is a critical driver of economic growth. As the Federal Reserve prepares for its next meeting, the stakes are high. A misstep could have far-reaching consequences for the US economy, impacting everything from inflation rates to employment levels. The central bank's commitment to achieving its inflation target of 2 per cent remains steadfast, but the path to get there is fraught with uncertainty. Hence, while inflation may be slowing, the Federal Reserve's next moves are anything but clear. As policymakers grapple with the challenges of the current economic landscape, consumers and businesses alike are left to navigate the implications of these decisions. The coming months will be crucial in determining the trajectory of inflation and the overall health of the economy.

Inflation slows down, but uncertainty surrounds Federal Reserve's next move

Janet Yellen visited Wall Street for a paid appearance two months after stepping down as Fed chair, discussing the economy and interest rates at an event hosted by investment bank Jefferies that included a sit-down dinner for forty.&nbsp

In a short telephone interview, Yellen, who ran the US Federal Reserve the last four years until early February, said she revealed no confidential information at Monday's gathering, put on by Jefferies CEO Richard Handler.&nbsp

One source familiar with the event told it was her first such engagement since leaving the Fed.&nbsp

"I talked about the economy and general perspectives on monetary policy," Yellen said late on Wednesday. She said she was paid but declined to say how much, and did not provide details.&nbsp

The program included a question-and-answer session with more than 100 Jefferies clients, where according to the source she stuck close to the gradual rate-hike message that her successor, Jerome Powell, has also delivered since taking charge.&nbsp

Later, over dinner at the Manhattan penthouse of Jefferies' chief executive, Yellen told executives from hedge funds, private equity firms and other companies that she considered inflation to be in check and unlikely to spike, so rates would stay relatively low, according to a second person familiar with the discussion.&nbsp

Cashing in after years in public service is a well-trodden path for policymakers and regulators, highlighting the demand among investors for any exclusive insights they can offer.&nbsp

In the case of former Fed chiefs, who can earn an annual salary in one night and have no constraints on expressing their views provided they do not broach confidential matters, those insights could potentially move markets.&nbsp

Yellen's predecessor Ben Bernanke waited just over a month after leaving the Fed in 2014 before earning some $250,000 for a private talk in Abu Dhabi. He followed that up with similarly-priced private dinners with investors in New York, at which he predicted rates would remain low for a long time.&nbsp

Former Fed Chair Alan Greenspan waited only a week after stepping down before addressing a private dinner in 2006 hosted by Lehman Brothers, the investment bank whose collapse two years later sent the global financial crisis into high gear.&nbsp

Under Yellen, who earned just more than $200,000 per year as chair, the Fed finally turned the corner from its crisis-era policies of near-zero interest rates and trillions of dollars of bond-buying.

At Monday's larger forum for Jefferies clients, she expressed the view that three or four rate rises were likely this year, and that recent US tax cuts and a boost in government spending posed at least some risk of running the economy hot, according to the first source, who requested anonymity.&nbsp

Reuters was not able to reach David Zervos, the Jefferies Group LLC chief strategist who conducted the forum and who later tweeted a link to a photograph of him with a smiling Yellen on Instagram.&nbsp

"An amazing evening last night hosting Janet Yellen for our clients in NY," read the tweet, posted Tuesday.&nbsp

The Fed raised rates last month at its first meeting under Powell, and forecasts showed policymakers were split between three or four total hikes this year as economic growth and inflation were seen rising.&nbsp

Yellen joined the Brookings Institution think tank immediately after stepping down and spoke publicly there in February about the economy. Last month she discussed her Fed tenure at the University of Pennsylvania.&nbsp

In recent months she was listed as a speaker-for-hire by the Washington Speakers Bureau, which did not immediately respond to a request for comment. 
&nbsp 
Her profile page, alongside that of Bernanke and Greenspan, says she travels from Washington and fees vary based on event location.&nbsp

One source familiar with the event told it was her first such engagement since leaving the Fed

Janet Yellen visited Wall Street for a paid appearance two months after stepping down as Fed chair, discussing the economy and interest rates at an event hosted by investment bank Jefferies that included a sit-down dinner for forty. In a short telephone interview, Yellen, who ran the US Federal Reserve the last four years until early February, said she revealed no confidential information at Monday's gathering, put on by Jefferies CEO Richard Handler. One source familiar with the event told it was her first such engagement since leaving the Fed. "I talked about the economy and general perspectives on monetary policy," Yellen said late on Wednesday. She said she was paid but declined to say how much, and did not provide details. The program included a question-and-answer session with more than 100 Jefferies clients, where according to the source she stuck close to the gradual rate-hike message that her successor, Jerome Powell, has also delivered since taking charge. Later, over dinner at the Manhattan penthouse of Jefferies' chief executive, Yellen told executives from hedge funds, private equity firms and other companies that she considered inflation to be in check and unlikely to spike, so rates would stay relatively low, according to a second person familiar with the discussion. Cashing in after years in public service is a well-trodden path for policymakers and regulators, highlighting the demand among investors for any exclusive insights they can offer. In the case of former Fed chiefs, who can earn an annual salary in one night and have no constraints on expressing their views provided they do not broach confidential matters, those insights could potentially move markets. Yellen's predecessor Ben Bernanke waited just over a month after leaving the Fed in 2014 before earning some $250,000 for a private talk in Abu Dhabi. He followed that up with similarly-priced private dinners with investors in New York, at which he predicted rates would remain low for a long time. Former Fed Chair Alan Greenspan waited only a week after stepping down before addressing a private dinner in 2006 hosted by Lehman Brothers, the investment bank whose collapse two years later sent the global financial crisis into high gear. Under Yellen, who earned just more than $200,000 per year as chair, the Fed finally turned the corner from its crisis-era policies of near-zero interest rates and trillions of dollars of bond-buying. At Monday's larger forum for Jefferies clients, she expressed the view that three or four rate rises were likely this year, and that recent US tax cuts and a boost in government spending posed at least some risk of running the economy hot, according to the first source, who requested anonymity. Reuters was not able to reach David Zervos, the Jefferies Group LLC chief strategist who conducted the forum and who later tweeted a link to a photograph of him with a smiling Yellen on Instagram. "An amazing evening last night hosting Janet Yellen for our clients in NY," read the tweet, posted Tuesday. The Fed raised rates last month at its first meeting under Powell, and forecasts showed policymakers were split between three or four total hikes this year as economic growth and inflation were seen rising. Yellen joined the Brookings Institution think tank immediately after stepping down and spoke publicly there in February about the economy. Last month she discussed her Fed tenure at the University of Pennsylvania. In recent months she was listed as a speaker-for-hire by the Washington Speakers Bureau, which did not immediately respond to a request for comment. Her profile page, alongside that of Bernanke and Greenspan, says she travels from Washington and fees vary based on event location.

Yellen gets post-Fed payday in private meetings with Wall Street elite

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