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Time for Yellen to target inflation, worry less about jobs

from Market Watch

Legend has it — and it almost certainly is legend — that one midnight long ago, the blues artist Robert Johnson went down to the crossroads of two Mississippi highways and sold his soul to the Devil to become a great musician. Johnson’s song “Cross Road Blues” was immortalized by guitar god Eric Clapton. It’s a powerful metaphor for a momentous decision that changes your life forever. Now Federal Reserve Chairwoman Janet Yellen is herself approaching a crossroads. And the stakes are also very high: The health of the markets and the U.S. economy over the next few years. more

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