Tapering or tap dancing?

  @FortuneMagazine November 21, 2013: 7:10 AM ET
EDD09 janet yellen

Fed chairman-in-waiting, Janet Yellen

(Fortune)

Assuming Janet Yellen is the next Fed chair, sometime in her tenure she will need to wind down the historic quantitative-easing policy that has been in effect since November 2008. The stimulus -- which has entailed the Federal Reserve's buying hundreds of billions of dollars of Treasury securities -- was put in place to keep the economy from tanking during the Great Recession and then to try to help it recover. How adroitly Yellen winds down, or tapers, will surely be a defining act of her time as Fed chief. No pressure, Janet: The fate of the biggest economy in the world depends on you.

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