FTA-——Despite her gold-plated résumé, Ivy League degrees, and time served as Fed chair, Biden paid the price politically as the American people paid the price economically for her bungling.
Americans aren’t done paying the price for Yellen’s mismanagement as most of the financial media overlooks the fiscal time bomb she devised — one that could blow up once Trump takes office.
Specifically, my sources who follow the bond market say Yellen has been setting a trap for the incoming Trump administration through the way she financed the massive $1.8 trillion federal budget deficit that exploded during the Biden years with the accumulation of $36 trillion in debt.
One thing we can probably all agree on though... what a hair-doo!
I expect to see Kimmie K. sporting it soon.
She started as Treasury secretary under Biden in January 2021 and as the article states began a practice of short term financing of what traditionally was long term debt all for political purposes, now Trump and Bessent have manage the short term refinancing properly to avoid a run up on long term interest rates and crashing the housing market, in other words she left a financial crisis for the next president to clean up
The Fed acted too late. We didn't start to increase the interest rate until 2022. Should have done it one year earlier even though covid was still around.