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Former Secretary of the Treasury during Biden's presidency Janet Yellen called Trump's efforts to revitalize America's manufacturing capabilities "a pipe dream. Not only will it not happen, it's not even a desirable goal. America has entered a post-industrial phase. Generation Z quite sensibly rejects the idea of having to work for a living. We won't have the workforce needed to run complex industrial output in another 20 years." "In contrast, China has millions of workers willing to accept extraordinarily low wages," Yellen contended. "Why not let them do the work making products so Americans can concentrate on consuming them? China...

Former President Joe Biden’s U.S. Treasury Secretary Janet Yellen blasted President Donald Trump’s tariffs on Monday, saying the return of American manufacturing is just a “pipe dream” that may not even be a “desirable goal.” Yellen, who chaired the Federal Reserve from 2014 to 2018 prior to heading the Treasury from 2021 to 2025, took to CNBC’s Squawk Box to spew her anti-American rhetoric: Things have been just chaotic,” the former secretary said. “The reciprocal tariffs put on and paused … This is really creating an environment in which households and businesses feel paralyzed by the uncertainty about what’s going...

Former Treasury Secretary Janet Yellen claimed Friday on CNN’s “Anderson Cooper 360” that President Donald Trump’s tariffs are doing “immense damage to our economy.” Yellen said, “This is the worst self-inflicted policy wound I’ve ever seen in my career inflicted on our economy. The Trump tariff plans are doing immense damage to our economy. You can see that in the stock market, in the impact of these tariffs are expected to have on American households. And we’re even beginning to see what looks like a flight away from dollar-based assets in the financial markets, which is a really scary development.”...

After four years of allowing Joe Biden and his fellow Democrats to spend up a storm and calling inflation "transitory." Treasury Secretary Janet Yellen is suddenly concerned about the debt ceiling. In Her Last Official Act, Yellen Warns US Will Hit Debt Ceiling One Day After Trump InaugurationThis is a like a goofus who's maxxed out her credit cards and is now complaining about her credit limit. Yellen didn't complain at all the last two months as Biden has been sending money to green pushers as fast as he could. Biden has been paying off student loans illegally ... and...

Treasury Secretary Janet Yellen has warned that the United States will hit its statutory debt ceiling around the middle of January, a development she said will prompt the Treasury to resort to “extraordinary measures” to prevent the government from defaulting on its obligations.Yellen outlined the looming fiscal challenge in a Dec. 27 letter to congressional leaders, urging them to act to protect the nation’s economic credibility and preserve fiscal stability.She noted that the Fiscal Responsibility Act of 2023 temporarily suspended the debt ceiling through Jan. 1, 2025, enabling lawmakers to avert default during contentious budget negotiations. A day after that...

The whiplash-inducing, “Hun­ger Games”-style race to become Donald Trump’s Treasury secretary made it easy for the media to ignore what has been going on with Janet Yellen — and the absolute mess she’s leaving for her successor. Yellen — who, it was revealed Friday, will be replaced as Treasury secretary in January by hedge fund mogul Scott Bessent — was Joe Biden’s pick to run the office that is essentially the country’s CFO. Indeed, it could be the most important cabinet position in the White House given the importance of the US economy. Americans put Trump in office largely over...

On September 20, 2024, U.S. District Judge Michael H. Simon for the District of Oregon issued an Opinion and Order in favor of defendants in the case. Firestone, et al.. v Janet Yellen, et al., Case No. 3:24-cv-1034 (D. Ore.) The Order upheld the constitutionality of the CTA and recognized Congress’ power to regulate. It is currently unclear as to the implications of this ruling for the business community at large. …[D]iscussing the likelihood of success on the merits, the court rejected the argument that Congress lacked authority to enact the CTA. The court recognized Congress’ broad authority to adopt...

During an interview aired on Thursday’s broadcast of MSNBC’s “11th Hour,” Treasury Secretary Janet Yellen stated that people are unhappy with their personal finances because “the cost of living is very high.” But that’s been the case “for a long time. But the inflation that we saw after the pandemic really exacerbated it for so many people.” Host Stephanie Ruhle asked, “By most major measures, the economy is doing very well. Yet, most people in America, many people in America still don’t feel good about their personal finances. What do we do about that, how do we solve for it?”

The purpose of constantly invoking the specter of a dictatorship under Trump is to condition Democrats to react violently if Harris loses. By now it’s commonplace to note that Kamala Harris often seems out of her depth, like she’s unsure what to say about policy, or how to explain her past positions, or why she hasn’t already done the things she’s promised to do if she’s elected given that she’s the current vice president. But on one particular subject she’s been consistent and forceful throughout her campaign. She’s adamant that Donald Trump will destroy America if he’s reelected. And not...

During an interview with CNN’s “Axe Files” podcast released on Thursday, Treasury Secretary Janet Yellen said that the spending in the American Rescue Plan “added to the demand in areas that were supply-constrained, and so, may have played a little bit of a role” in inflation. Yellen said, [relevant remarks begin around 43:35] “We never would have seen that inflation just because of the demand that was created. It was the supply shock created by the pandemic, the fact that you couldn’t get semiconductors to produce cars, that we had auto factories that had to close that caused prices to...

During an interview with CNBC on Thursday, Treasury Secretary Janet Yellen responded to a question on if she thinks the Federal Reserve has rates that are too high by stating that the Fed’s members expect rates to be cut and “when you have an economy that’s growing at potential, that’s operating at full employment with inflation in the vicinity of the Fed’s target, that suggests that a more neutral stance of policy is appropriate.” CNBC Senior Economics Reporter Steve Liesman asked, “I know you think a lot about the Fed. But I also know you don’t talk a lot about...

Treasury Secretary Janet Yellen said Thursday she believes the U.S. economy is making the “soft landing” that she predicted two years ago, when inflation soared after the pandemic. In a live interview during the Atlantic Festival 2024, journalist Ron Brownstein recalled their interview in 2022, when, he said, “there was a great deal of apprehension about the economy, about the Biden administration’s management of the economy.” “Well, here we are now, two years later: unemployment 4.2, inflation under 3 percent, Fed finally, cutting interest rates,” he said. “I know Taylor Swift has been in the news a lot lately, so...

U.S. Treasury Secretary Janet Yellen tested positive for COVID-19 on Tuesday after experiencing symptoms, but is engaged in her duties while working from home, Treasury spokesperson Lily Adams said. Yellen will continue to work from home until she can return to Treasury offices, Adams said in an emailed statement.

If these guys were a rose bush with so many thorns and so few flowers, you’d burn it! The Fed can easily be made to work but nobody apparently wants it to, or we’d change it. This rose bush puts out flowers that only stink and wither, but it has thorns the size of your fingers that cling to your pockets and tear at your flesh. We have three articles that were prominent in my news searches today that lay out just how miserably (for all of us) the Fed is failing at its actual mission. The first one by...

U.S. Treasury Secretary Janet Yellen said during a speech in Belem, Brazil, on Saturday that the price tag for a global transition to a low-carbon economy amounts to $78 trillion in financing through 2050. Yellen said that in order to achieve the goal of net-zero global carbon emissions, there would need to be $3 trillion globally in annual financing for the cause, which she said is a top priority for the Biden administration, according to the speech. In order to contribute to this, Yellen vowed to finance green initiatives in developing countries through multilateral development banks and develop “clean energy...

WASHINTON, DC — President Biden finally admitted this afternoon that he is no longer mentally fit to be President, then assured the nation that he will continue being president. "I have to face reality. My mind isn't what it used to be," President Biden announced Sunday. "I forget things. Sometimes I don't know where I am. Yesterday I mistook a houseplant for Janet Yellen. It's something about her face. So, with a heavy heart, I am announcing that I am no longer fit to be President and will cease campaigning. Still, you can sleep easy knowing I will continue running...

Still no sticker shock, Janet? Treasury Secretary Janet Yellen was spotted stocking up on groceries on Saturday — after dismissing a question about inflation and rising food prices earlier this week. Yellen, 77, and her husband, economist George Akerlof, stopped by a Giant Food store in Washington, DC, after grabbing lunch at Japanese restaurant Raku. The millionaire couple had six security people in tow but pushed their own carts full of reusable Fresh Direct grocery bags out of the store after stocking up. Yellen — who is worth an estimated $20 million — drew criticism this week when she appeared...

In Atlanta to promote the Biden administration’s efforts to quell the import of illegal drugs into the U.S., Treasury Secretary Janet Yellen announced new sanctions against members of a Mexican drug cartel accused of trafficking fentanyl, cocaine, meth and migrants through the southern border. Included in the sanctions are eight members of the La Nueva Familia Michoacana drug cartel, a notoriously violent group that wars for territorial control with a slate of other Mexican cartels. Also Thursday, Yellen issued an advisory to banks to help them identify and report suspicious transactions related to the sale an purchase of chemicals and...

On Friday’s broadcast of WBUR’s “Here and Now,” Treasury Secretary Janet Yellen reacted to reports raising the possibility that the Chinese Communist Party directly subsidizes the makers of precursor chemicals for fentanyl — a claim backed by a report by the House Select Committee on the Strategic Competition Between the United States and the Chinese Communist Party — by stating that “we have seen the PRC take some very helpful steps.” And “there have been helpful developments with China.” But “We would like to see more steps and we would like to see the support sustained.” Co-host Scott Tong asked,...

During an interview aired on Thursday’s broadcast of the Fox News Channel’s “Your World,” Treasury Secretary Janet Yellen stated that the current interest burden of the national debt is at a “normal” level, but President Joe Biden wants to cut the deficit “and doing that would be compatible with making investments in the economy that are necessary to support its growth. But we’re going to have to let important pieces of the Tax Cut[s] and Job[s] Act expire.” Yellen said, “Well, the debt — the ratio of debt to GDP — we have a very large economy, and the ratio...