Posted on 11/23/2020 12:30:24 PM PST by SeekAndFind
Former Federal Reserve Chair Janet Yellen will serve as the 78th Treasury Secretary of the U.S., the Wall Street Journal reported Monday afternoon, citing people familiar with President-elect Joe Biden’s transition team.
Yellen, 74, will have her work cut out for her, with the U.S. economy in the midst of the deepest economic crisis since the Great Depression. But Yellen’s deep experience with macroeconomics, in addition to her familiarity with the inner workings of Washington, could prove to be useful tools as the Biden administration takes a swing at a fiscal response to the crisis.
If confirmed, Yellen will be the first woman to hold the position, and only the second Fed chair to serve in the role (G. William Miller).
Her resumé includes 16 years in leadership roles within the Federal Reserve System.
From 2004 to 2010, Yellen served as the head of the Federal Reserve Bank of San Francisco before being tapped by the Obama administration for a role as Fed Vice Chair from 2010 to 2014. She was then appointed to replace Ben Bernanke as Fed Chair and served in that position until 2018 when the Trump administration replaced her with Jay Powell.
Like many former Fed chairs, Yellen has had experience working with fiscal policy through economic roles within previous White Houses. From 1997 to 1999, Yellen served as chair of the White House Council of Economic Advisors, helping to drive policy under the Clinton administration.
Since leaving the Fed, Yellen has worked at the Washington D.C.-based think tank Brookings Institution.
(Excerpt) Read more at finance.yahoo.com ...
So? She’ll continue farming us for her Globalist overlords, like we’ve been farmed since the Fed was formed.
“Former Federal Reserve Chair Janet Yellen will serve as the 78th Treasury Secretary of the U.S., the Wall Street Journal reported Monday afternoon, citing people familiar with President-elect Joe Biden’s transition team.”
I doubt President & President-Elect TRUMP will agree to that.
This will come as a big surprise to Ivy Baker Priest.
Yellen is all for negative interest rates. Which means bank will charge YOU interest for keeping money in your bank instead of paying you a few pennies in interest.
From 1997 to 1999, Yellen served as chair of the White House Council of Economic Advisors, helping to drive policy under the Clinton administration.
And we all saw how well that worked out...
Yellen, 74, will have her work cut out for her, with the U.S. economy in the midst of the deepest economic crisis since the Great Depression.
Oh, that’s right, I’d forgotten about that...
Negative interest rates apply to central banks and not commercial banks. It's a way of discouraging commercial bank deposits with central banks and get more money into the economy.
Well, at least it is not Fauxahontas or AOC.
If The Delerium/Heels Up ticket succeeds at stealing our election, I don’t GAS what they do. At that point, this IS the last election.
I am out. No mas!
RE: And we all saw how well that worked out...
The economy was great during the years 1997-1999 ( There of course was the DOT COM bubble ), but with Newt as Speaker and Bob Dole and then Trent Lott as Senate Majority leaders, we had a BUDGET SURPLUS ! Unthinkable now in an age of huge trillion dollar deficit spending.
Commercial bank rates follow central bank rates lock stock and barrel.
Have they not looked at the great economic and job numbers out over the past two months? They are building a false narrative to give Biden the credit a couple months from now for more good numbers.
If The Delerium/Heels Up ticket succeeds at stealing our election, I don’t GAS what they do. At that point, this IS the last election.
I am out. No mas!
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