Janet Yellen departs from office — as she leaves a trail of mess behind her

NY Post ^ | 11/23/24 | Charles Gasparino

[Libloather]

Sounds bad.

[Right_Wing_Madman]

Janet Yellen departs from office — as she leaves a trail of mess behind her

A total mess, but the treasurer doesn't really do anything. They're just the national accountant. The Congress controls fiscal policy and the Fed controls monetary policy, and neither can make hard decisions to fix the currency and country's finances, so more inflation here we go.

[srmanuel]

Between her time as Fed Chairman and Treasury Secretary, rarely has one person done so much damage to so many people, the vast majority of which are the working middle class.

She’s personally destroyed the financial security of millions of Americans.

[NautiNurse]

Janet Yellen should have retired years ago, bought herself a big floppy sunhat, and puttered away retirement in a garden. Her failure to retire in a timely manner has cost us a great deal of money.

[Right_Wing_Madman]

She’s personally destroyed the financial security of millions of Americans.

I disagree with you somewhat on this. So-called "conservative" Jerome Powell, as Fed chairman, printed massive amounts of money in the COVID era (2020-21) that we're still paying for today. If Yellen was Fed chairman at the time, would it have been worse? Probably, but we'll never know.

[Liz]

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.

[WeaslesRippedMyFlesh]

What else floats?

[neverevergiveup]

When you pick someone from academia with no significant private sector experience, this is what happens. It was predictable.

[Sarcazmo]

One thing we can probably all agree on though... what a hair-doo!

I expect to see Kimmie K. sporting it soon.

[EQAndyBuzz]

“ She’s personally destroyed the financial security of millions of Americans.”

As planned.

[srmanuel]

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

[Bonemaker]

Yellen an idiot...all in on global warming and dumb/malignant on nation’s Treasury matters.

[7thson]

Almost as if it has been planned from the start.

[Right_Wing_Madman]

She started as Treasury secretary under Biden in January 2021

Powell replaced Yellen as Fed chairman in 2018.

https://www.federalreservehistory.org/people/janet-l-yellen

As I said in a previous post, the Fed chairman (along with his board) prints the money, and the Treasurer accounts for the damage.

[Lazamataz]

In Russia, a screw up of this magnitude would result in execution.

[Sirius Lee]

She can't hit the road fast enough.

[srmanuel]

I understand when she was at both places, it’s a double shot of mismanagement, first at the Fed and later at the Treasury Department, she was terrible at both places, she got rewarded for her loyalty to the Democrats and the establishment for political decisions which caused untold millions of Americans to suffer.

[lurk]

Her testimony in congressional hearings was always a babble of what to do wrong.

[LouAvul]

I don't know about that. That lamebrain Carter appointed Paul Volcker chairman of the Fed who then raised interest rate to 20% to control inflation. Mortgage interest went to 24%.

It brought inflation down but collapsed the economy in the process. Construction and manufacturing were the first to go and those are always two Prime Forces in our economy.

[yldstrk]

She’s a hag.