Something else is that I'm seeing the Fed not working as well since Obama put Yellen in charge; my take is that the U.S. will be better off w/ someone else (named by Trump) in charge..
Posted on 09/28/2016 3:08:02 AM PDT by expat_panama
Even with two years remaining in her term, Federal Reserve Chairwoman Janet Yellen may quit if Donald Trump is elected president, an economist argued on Tuesday.
Paul Ashworth, chief U.S. economist at Capital Economics, said in a note to clients that Trump doubled down on criticism of the Fed during his debate with Hillary Clinton.
Trump said the U.S. economy is in a “big, fat, ugly bubble” and specifically called out Yellen.
“And we have a Fed that’s doing political things. This Janet Yellen of the Fed,” he said. “The day Obama goes off, and he leaves, and goes out to the golf course for the rest of his life to play golf, when they raise interest rates, you’re going to see some very bad things happen, because the Fed is not doing their job...
...he would continue with his public criticisms of the Fed in the run-up to that meeting, arguing that a rate hike would be a political attempt to damage the economy ahead of his presidency. The main reason for believing that Yellen would resign almost immediately is that falling on her sword would take some of the political heat off the rest of the FOMC...
...Trump would in turn be more likely to nominate someone who would bow to political pressure — and leave interest rates lower for even longer than the Yellen-led Fed would have done.
(Excerpt) Read more at marketwatch.com ...
Something else is that I'm seeing the Fed not working as well since Obama put Yellen in charge; my take is that the U.S. will be better off w/ someone else (named by Trump) in charge..
Would she quit before she’s fired?
well good....then Trump can put in someone useful
Pres can’t fire Fed Reserve Chair. I believe the Chair doesn’t even report to the Pres, just to Congress.
Is she going to leave the country like Rosie O’Donnell?
“Pres can’t fire Fed Reserve Chair. I believe the Chair doesn’t even report to the Pres, just to Congress.”
Fine pull an Andrew Jackson and abolish the whole thing like he did with the BUS. Turn the responsibilities over to the Treasury department
Simply have Congress order a full financial audit of the Fed’s activities. (Republicans should have a good majority after November, use it.)
Now that will (a) REALLY get the attention of Yellin and everybody else in charge there and (b) show everyone who’s in charge.
If the Fed has got nothing to hide, an audit should be no problem, right?
Pres can’t shut down Fed Reserve either. Unlike Jackson’s National Bank, there is no expiration date on the Fed Reserve charter. Congress calls the shots.
Yep. Exactly.
Except large numbers of Trump supporters proudly proclaim they they will not vote for down-ticket Republicans, so the GOP will likely be weaker in Congress.
She shouldn’t let the door hit her on the way out.
Of all the offices Trump wants to put new people, it is anything that has to do with money !
Don’t let the door hit you in the butt Yellen, you will NOT be missed.
Now, if we can get Comey impeached. I think they would like to impeach that a$$ hat in the IRS too.
Trump doesn't have the authority to fire Yellen.
Another reason to vote for Trump!
I thought Trump's complaint was that the Fed was too political. You want to turn the functions over to an agency run by political appointees? Good plan.
He could always do whet Kennedy did and make an executive order stopping the Federal Reserve from charging the Government interest.
We saw how that worked out.
Every fed bank is audited yearly by an outside auditing company and by a government agency. What more do you want?
It’s tricky. The Fed Chairman serves at the pleasure of the President. He can pressure congress to have her removed.
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