to pretend they're already the chairman therefore make new policy or try to get ahead of their colleagues in the federal open market committeeellen will try very hard not to make new ground specifically when tapering will begin if at all in the next few months on. but she may not have much choice. because i think a lot of the questions from the senators on the panel will zero in on that issue. >> yeah. she's going to be tested, isn't she, quite a lot. particularly from the republicans. there's not much in the prepared statement. what will she say about inflation? >> the inflation is a good one because she has a reputation as being a dove, that is somebody who cares more about unemployment than inflation given a certain set of circumstances. so on the one hand, she's going to want to dispel the impression that some people have that she's easy on inflation, without sounding so hawkish that the markets react so badly and sends long-term interest rates up sharply. so i think what she will do is emphasize her adherence to the fed's 2% inflation target and claim authorship of the policy that put that 2% inflation target in place.