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 ...
He’s an idiot.
“you didn’t build that”
SMH
I forgot about him.
Will go right back to doing that.
When you are feeling unloved this is how you get some press.
Just another whiner from the District of Corruption.
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.
Former.
FORMER.
FORMER
FORMER
FORMER
FORMER
FORMER
FORMER
FORMER
FORMER
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.
We never needed the blood sucking, thieving, parasites.
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.
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...
Janet Yellen: “...the Fed’s goals are maximum employment and price stability...”
BWAHAHAHAHAHAHAHAHA!!!!!!!!!!!!
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.
“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?
>>>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%?
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.
"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.
"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.
Janet is a Dem stooge.
Trump couldn’t recover the economy from the most intelligent president ever and make for the lowest unemployment. /S
If Yellen were a man, she would never have risen above bank teller.
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.
After reading that book I understand why the anti-federalists hated banks.
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