Janet Yellen is expected to be confirmed as the next Chair of the Federal Open Market Committee (FOMC). The document discusses what a "Yellen Fed" may look like and why the markets see her as a potential ally for mortgage participants. It notes that Yellen believes in the Fed's current approach of tackling low inflation and supporting continued job growth. However, it also points out that Yellen has voted for interest rate hikes before when inflation was a concern, so she is not an "inflation pushover." The document provides an overview of Yellen's qualifications and experience in central banking and economics.