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Yellen imitates Greenspan in reversal of mid-1990s rookie role

In 1996, she had visited then Fed chief to push for higher rates; now, some of her fellow officials are doing same

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Like Mr Greenspan before her, Ms Yellen is resisting pressure to lift benchmark borrowing costs, opting instead to give the economy room to run.

Washington

WHEN Janet Yellen was a rookie policy maker in September 1996, she and fellow Federal Reserve governor Laurence Meyer visited Alan Greenspan's office to make a pitch for higher interest rates.

With unemployment near 5 per cent, they were worried about inflation kicking

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