Media Alert Oct. 9, 2013
Attention: Financial, economics editors and reporters
COLLEGE PARK, Md. - The following finance faculty experts in the University of Maryland’s Robert H. Smith School of Business are available to expand on comments in reaction to President Obama's nomination of Janet Yellen to chair the Federal Reserve.
David Kass: Yellen Could Offset Fiscal Tightening
”Yellen would likely continue the Federal Reserve's accommodative monetary policy, which should help offset the anticipated tightening of fiscal policy that is likely to result from forthcoming negotiations over the budget.
“If confirmed, Yellen would do a superb job. She is highly regarded by the economics profession. Her outstanding track record during her many years on the Board of Governors, including currently serving as Vice Chairman, as well as having been President of the San Francisco Fed, uniquely qualifies her for this position.”
Kass, a Tyser Teaching Fellow, was a student of Yellen in a doctoral course on macroeconomics at Harvard in 1973. He has held senior positions with the Federal Trade Commission, General Accounting Office, Department of Defense and Bureau of Economic Analysis. He teaches advanced financial management and business finance, and is the faculty champion for the Sophomore Wall Street Fellows. He also has launched a Smith School “Warren Buffett” blog.
Elinda Kiss: Nomination Timed to Signal Stability, Trigger Confidence
“The timing of her Fed chair nomination may send a signal of policy stability to financial markets, where investors are growing increasingly nervous over the partial shutdown and what they perceive as the much bigger threat of a default on Treasury debt if Congress does not raise the borrowing limit.”
Elinda F. Kiss, Tyser Teaching Fellow, has worked in banking and bank regulation at Citicorp, Philadelphia Savings Fund Society, First Pennsylvania Bank, Resolution Trust Corporation and the Board of Governors of the Federal Reserve.
Cliff Rossi, a UMD Professor of the Practice, has insight from 25 years in senior risk management and credit positions at Citigroup, Washington Mutual, Countrywide, Freddie Mac and Fannie Mae. He can comment on the Yellen nomination in terms of financial policy encompassing market regulation and related issues involving such sectors as banking, real estate and small business.