Yellen is Fed's best forecaster, watch her predictions closely

FXstreet.com (Barcelona) - Ms. Yellen, who has been nominated as the new Fed Chair, has the best track record among Fed officials, as the chart below shows:





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The chart above is courtesy of The Wall Street Journal. As wallstcheatsheet.com notes: "It analyzed the economic predictions made by U.S. Fed policymakers between 2009 and 2012 and ranked them based on accuracy. Yellen scored a decisive victory."

While it is hard for traders to make predictions of future trends, the fact that the new Federal Reserve Chair - the most powerful banking job in the world - has a strong track record at forecasting economic predictions suggests Yellen's ability to predict upcoming economic events as opposed to other members that may be just lucky.

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