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Janet Yellen rips President Trump on his failure to understand monetary policy

Former Fed Chair airs scathing rebuke of the President’s lack of understanding of monetary policy

President Trump and Janet Yellen (Photo Credit: Carlos Barria/Reuters; Bob Bryan/BI)

Former Federal Reserve Chair Janet Yellen criticized President Trump yesterday. 

Comments: She told “Marketplace” host Kai Ryssdal: “I doubt that he would even be able to say that the Fed’s goals are maximum employment and price stability… He’s 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. Comments like that show a lack of understanding of the impact of the Fed on the economy, and appropriate policy goals.”

Be Smart: She said that monetary policy would have been broadly similar had she remained in the job. Current Chair Jerome Powell testifies on Capitol Hill today. Stay tuned!

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