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Yellen critical of Trump's grasp of economic policy
AP/yahoo ^ | 2/26/19 | Martin Crutsinger

Posted on 02/26/2019 9:05:43 AM PST by central_va

WASHINGTON (AP) -- Former Federal Reserve Chair Janet Yellen says she doubts that President Donald Trump has a good grasp of economic policy or even knows the Federal Reserve's mandates.

"I doubt that he would even be able to say that the Fed's goals are maximum employment and price stability," Yellen said in an interview with radio program "Marketplace."

She said Trump has made various inaccurate remarks about the Fed such as that the central bank has an objective for the exchange rate for the dollar that is aimed at supporting the president's trade policies.

She said comments like that show a "lack of understanding of the impact of the Fed on the economy and appropriate policy goals."

Asked in the interview released Monday if she felt Trump had a grasp of macroeconomic policy, Yellen said, "No I do not."

(Excerpt) Read more at yahoo.com ...


TOPICS: Business/Economy; Culture/Society; Government; News/Current Events
KEYWORDS: fed; get; of; rid
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To: ssaftler

He’s an idiot.

“you didn’t build that”

SMH

I forgot about him.

Will go right back to doing that.


21 posted on 02/26/2019 9:26:27 AM PST by dp0622 (The Left should know if.. Trump is kicked out of office, it is WAR!)
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To: struggle

When you are feeling unloved this is how you get some press.

Just another whiner from the District of Corruption.


22 posted on 02/26/2019 9:27:10 AM PST by JayAr36 (Organized Crime is now in charge of the District of Corruption)
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To: JayAr36

yellen is your typical proven-wrong LIB nitwit who is unable to accept that her ideas and policies are wrong-headed, wrong and without any merit. What a loser. It is pathetic that she whines. She did harm to this society by accepting any position of authority and responsibility.


23 posted on 02/26/2019 9:30:13 AM PST by hal ogen (First Amendment or Reeducation Camp?)
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To: central_va
Former Federal Reserve Chair Janet Yellen says she doubts that President Donald Trump has a good grasp of economic policy or even knows the Federal Reserve's mandates.

Former.

FORMER.

FORMER

FORMER

FORMER

FORMER

FORMER

FORMER

FORMER

FORMER

24 posted on 02/26/2019 9:31:13 AM PST by Lazamataz (McCain's passing ended up being + 2 net Republican Senators. Him, and Lindsey Graham.)
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To: central_va

The problem with deep state policy workers like Yellen who have never produced anything useful is that they don’t understand that economic productivity can be measured - to what extent are you providing goods and service for the good of all - as measured through free market transactions.

Execution of social policies to redistribute goods and cut into productivity may generate GDP numberrs, but it doesn’t generate wealth except for a some layabouts and a few privileged cronies.


25 posted on 02/26/2019 9:36:58 AM PST by AndyJackson
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To: central_va

We never needed the blood sucking, thieving, parasites.


26 posted on 02/26/2019 9:49:54 AM PST by Dogbert41 (When the strong man, fully armed, guards his own dwelling, his goods are safe. -Luke 11:21)
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To: central_va

fascinating that she failed to quote the Fed’s official policy goals accurately (fully).
The fed’s official policy goals (they have 3 of them) are:
maximum sustainable employment, stable prices, and moderate long-term interest rates.


27 posted on 02/26/2019 9:57:29 AM PST by faithhopecharity ( “Politicians are not born; they are excreted.” Marcus Tullius Cicero (106 to 43 BCE))
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To: central_va

So a guy worth $10 billion with a giant network of properties knows less then an obscure flunky who wandered around third rate banks all her life filling out forms?

Riiiiight...


28 posted on 02/26/2019 9:58:33 AM PST by Regulator
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To: All

Janet Yellen: “...the Fed’s goals are maximum employment and price stability...”

BWAHAHAHAHAHAHAHAHA!!!!!!!!!!!!


29 posted on 02/26/2019 10:05:01 AM PST by JBW1949 (I'm really PC....PATRIOTICALLY CORRECT!!!!)
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To: marajade; central_va

Fortunately— horrible speaking voice, that sounded both uninformed, monotonal and at the same time... stupid.

Sounded exactly like Carol Channing without the charm or the wit, or the brains.


30 posted on 02/26/2019 10:12:18 AM PST by John S Mosby (Sic Semper Tyrannis)
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To: central_va

“Former Federal Reserve Chair Janet Yellen says she doubts that President Donald Trump has a good grasp of economic policy or even knows the Federal Reserve’s mandates.”

So I guess 0% interest rates for Obama for years and the best he could do was create a bunch of minimum wage jobs was otay. He really understood economics didn’t he?


31 posted on 02/26/2019 10:19:52 AM PST by antidemoncrat
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To: struggle

>>>I know that interest rates used to be at 6% and above, but going from a straight 0% policy during O to a 3.5% in three years really isn’t helping the housing sector.

Do you think the Fed should have stopped somewhere around 2.25 to 2.5%?


32 posted on 02/26/2019 10:33:36 AM PST by oincobx
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To: oincobx

I think they should have never gone to 0%.

Going to 0% is the post-bubble Japan option and is already proven not to work. It takes forever to get out of, especially if you don’t have a guy like Trump that comes in and slashes regulations and taxes.


33 posted on 02/26/2019 10:46:50 AM PST by struggle
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To: central_va
Actually the Fed has 3 goals by law: She left out one goal as well as the greater context of long run production.

"Federal Reserve Act - Section 2A Monetary Policy Objectives The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."

For the Federal Reserve to ignore Trade Policy impacts on the economy and/or government shutdowns impacts and fail to adjust monetary policy accordingly is negligent.

The Federal Reserve almost threw the country into a recession by raising rates too quickly and espousing a policy of raising rates more. Only after the stock market tanked, did the FED adjust policy.

The Federal Reserve should have listened to Trump.

34 posted on 02/26/2019 10:49:54 AM PST by DannyTN
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To: central_va
Actually the Fed has 3 goals by law: She left out one goal as well as the greater context of long run production.

"Federal Reserve Act - Section 2A Monetary Policy Objectives The Board of Governors of the Federal Reserve System and the Federal Open Market Committee shall maintain long run growth of the monetary and credit aggregates commensurate with the economy's long run potential to increase production, so as to promote effectively the goals of maximum employment, stable prices, and moderate long-term interest rates."

For the Federal Reserve to ignore Trade Policy impacts on the economy and/or government shutdowns impacts and fail to adjust monetary policy accordingly is negligent.

The Federal Reserve almost threw the country into a recession by raising rates too quickly and espousing a policy of raising rates more. Only after the stock market tanked, did the FED adjust policy.

The Federal Reserve should have listened to Trump.

35 posted on 02/26/2019 10:49:54 AM PST by DannyTN
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To: central_va

Janet is a Dem stooge.


36 posted on 02/26/2019 10:51:03 AM PST by CodeToad ( Hating on Trump is hating on me and America!.)
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To: dp0622

Trump couldn’t recover the economy from the most intelligent president ever and make for the lowest unemployment. /S


37 posted on 02/26/2019 10:52:15 AM PST by CodeToad ( Hating on Trump is hating on me and America!.)
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To: central_va

If Yellen were a man, she would never have risen above bank teller.


38 posted on 02/26/2019 11:09:31 AM PST by Cowboy Bob ("Other People's Money" = The life blood of Liberalism)
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To: central_va

The mandate of the Fed is to support equity and asset bubbles. I think we all know that, and know that price and employment stability have not been its mandate since its inception.


39 posted on 02/26/2019 11:17:04 AM PST by Sam Gamgee
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To: afterhoursarmory

After reading that book I understand why the anti-federalists hated banks.


40 posted on 02/26/2019 11:18:23 AM PST by Sam Gamgee
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