Bernanke compromised the Fed's independence, tied it directly to the Treasury's whim to spend trillions which did nothing to stimulate the economy. You might argue that in '09 he did what he had to do. But since then, his balance sheet is $4T heavier, and QE shows no signs of disappearing and is the largest transfer to a banking system in history. 0 int rates forever assure us of 2 more bubbles to pop in housing and stocks. Since '09 Ben has been a bust. Yellen will do nothing to stop the asset bubbles and the next financial 'recession'.

Corcoran in the Financial Post [link]

“The U.S. economy, despite the radical experiments in quantitative easing and the massive run-up in U.S. government debt, remains sluggish and uncertain. Unemployment is still high. Zero interest rates are still the norm, a situation that is far from normal. Above all, nobody seems to have a clear understanding of what happens when the Fed seriously withdraws from its massive program of buying government and mortgage-backed securities. Not only must the Fed stop the purchases — currently running at $75-billion a month — it eventually will have to stop buying assets and begin downsizing its $4-trillion-plus stockpile of government-backed paper.”

Since the US Central Bank is a political agency, nothing will be done to prevent the coming-future financial meltdowns.