Federal Reserve Chair Janet Yellen calmed markets on Tuesday as the new central bank chief affirmed that continuity would be a characteristic of the transition from former Chairman Ben Bernanke. HighTower Managing Director Paul Pagnato tells TheStreet’s Joe Deaux that Yellen will share similarities, but that she also offered some new viewpoints, like on structural and cyclical unemployment. Pagnato says markets and the economy will continue to recover, meaning that he doesn’t expect the Fed to slow or pause tapering.
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