Washington - Former Federal Reserve Chair Janet Yellen said she doubts that President Donald Trump has a good grasp of monetary policy and what the central bank does. In an interview with radio program Marketplace aired on Monday, Yellen said, "I doubt that he would even be able to say that the Fed's goals are maximum employment and price stability."Mr. Trump's comments demonstrate a "lack of understanding" about the Fed, she added.In the interview released Monday, Yellen made her most pointed comments about Mr. Trump since he decided not to nominate her for a second term as Fed leader. She left the Fed a year ago and was succeeded as chairman by Jerome Powell.Mr. Trump has "made comments about the Fed having an exchange rate objective in order to support his trade plans, or possibly targeting the U.S. balance of trade," Yellen told Marketplace. "And, you know, I think comments like that shows a lack of understanding of the impact of the Fed on the economy and appropriate policy … [Read more...] about Janet Yellen says Trump doesn’t understand what the Federal Reserve does
Janet yellen
Janet Yellen is absolutely right about the federal deficit
Former Federal Reserve head Janet Yellen said last week that she’s worried about the Federal deficit. She says current government spending is unsustainable. And, Yellen said, she’d raise taxes if she had a “magic wand.” Well, I’m also worried. And Yellen is absolutely right. But let’s parcel out the blame. The US debt level rose by $8.59 trillion from 2010 to 2017, according to HowMuch.net. That was on President Obama’s watch. And while Yellen wasn’t in charge of federal spending, she deserves some of the blame for the economy during half of those years. US debt is now nearly $21.7 trillion, and it’s growing fast. It will grow even faster when interest rates rise and the government has to spend more to borrow. With his tax cuts, Trump is expected to add $4.78 trillion to the debt between now and 2021. So he’s to blame also. And if the economy doesn’t respond massively to his tax cuts, Trump will be very much to blame. … [Read more...] about Janet Yellen is absolutely right about the federal deficit
Janet Yellen Calls Trump’s Attack on Fed Counterproductive
Former Federal Reserve Chairwoman Janet Yellen said President Trump’s attacks on the central bank could be counterproductive if they cause investors to doubt the Fed’s commitment to keeping inflation in check. Ms. Yellen said Monday at the annual convention of the Mortgage Bankers Association that she didn’t think the central bank or her successor as Fed chairman, Jerome Powell, would be influenced by Mr. Trump’s criticism last week, in which he said the Fed had “gone crazy” in its campaign to slowly raise short-term borrowing... … [Read more...] about Janet Yellen Calls Trump’s Attack on Fed Counterproductive
Janet Yellen advocates ‘lower-for-longer’ rates plan for future slumps
Christopher Condon and Rich Miller, Bloomberg Published 10:03 am PDT, Friday, September 14, 2018 Janet Yellen, former chair of the U.S. Federal Reserve, listens during a Brookings Institution discussion in Washington on Sept. 12, 2018. Janet Yellen, former chair of the U.S. Federal Reserve, listens during a Brookings Institution discussion in Washington on Sept. 12, 2018. Photo: Bloomberg Photo By Zach Gibson. Photo: Bloomberg Photo By Zach Gibson. Image 1 of / 1 Caption Close Image 1 of 1 Janet Yellen, former chair of the U.S. Federal Reserve, listens during a Brookings Institution discussion in Washington on Sept. 12, 2018. Janet Yellen, former chair of the U.S. Federal Reserve, listens during a Brookings Institution discussion in Washington on Sept. 12, 2018. … [Read more...] about Janet Yellen advocates ‘lower-for-longer’ rates plan for future slumps
Janet Yellen sides with Harvard in admissions bias case
Visit The Boston Globe Share on Twitter Share on Facebook Comment on this Scroll to top of page Deirdre Fernandes Globe Staff September 06, 2018 Janet Yellen, the former chairwoman of the Federal Reserve, allied herself with Harvard University on Wednesday, becoming the most high-profile economist to defend the Ivy League school’s position that it does not discriminate against Asian-American applicants.Yellen, the first woman to run the US central bank, joined a roster of economists who have filed documents in the federal court case supporting the analysis done for Harvard by fellow economist David Card. Yellen and her husband, Nobel Prize economist George Akerlof, in court documents both defended Card’s analysis of Harvard’s admission data that found no discrimination.Yellen’s decision to weigh in on the case puts her at odds with the Trump administration, which last week argued that Harvard’s admission process “may be … [Read more...] about Janet Yellen sides with Harvard in admissions bias case