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Janet Yellen’s Learning Curve – WSJ

When Janet Yellen testified before a congressional committee nearly a decade ago about the global financial crisis of 2007-2009, one caller noted that she seemed to have seen trouble brewing in banks and mortgage markets before most others. In truth, she said, she hadn’t put the pieces together fast enough to stop the ensuing disaster.

“I’m sorry,” said Ms. Yellen, then vice chairman of the Federal Reserve. “I wish I had, but I didn’t.”

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