The equity markets and liberal Democrats may rue the day they ever cheered for a Yellen-led Federal Reserve. Both the S&P 500 and the Nasdaq soared close to new highs Monday on the news that Larry Summers had withdrawn his name for consideration to be the next chairman of the Federal Reserve, leaving Janet Yellen as the only viable candidate for the position. Apparently, Yellen is seen by the markets as being more "accommodative" than Summers when it comes to printing money to drive growth, which Wall Street has interpreted as being good for the stock market. But the notion that Yellen is some sort of easy money ... (full story)