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underpants

(183,043 posts)
Wed Jan 31, 2018, 05:09 PM Jan 2018

Yellen is out at The Fed - Saturday

Trump is replacing Janet Yellen, the woman responsible for the economy he’s so proud of

Fed Chair Janet Yellen’s term ends this week because Trump didn’t want to reappoint an Obama pick.

https://www.vox.com/policy-and-politics/2018/1/31/16955904/donald-trump-state-of-the-union-janet-yellen-fed

President Donald Trump spent much of his State of the Union address bragging about the United States economy and the stock market. He should really be thanking Federal Reserve Chair Janet Yellen. Instead, he’s replacing her.

Yellen will exit the Federal Reserve on Saturday. She leaves behind a legacy of “near perfection.” She has overseen the biggest drop in unemployment of any Fed chair in modern history and the stock market’s continued rise. She helped steer the continued economic recovery and guided the return to pre-crisis policy — all items President Trump enjoys bragging about.

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Yellen is out at The Fed - Saturday (Original Post) underpants Jan 2018 OP
He plays the joke on himself. dchill Jan 2018 #1
Replacement needs watching-Russophile can damage delisen Jan 2018 #2
he's an infantile idiot. barbtries Jan 2018 #3
Congratulations. WhiskeyGrinder Jan 2018 #4
Oh Gaud, onethatcares Jan 2018 #5
typical of republicans. they still think greenie was a genius but can't find a kind word for yellen unblock Jan 2018 #6
She's been the best, but just watch Trump blame her if there's a downturn. n/t Tarheel_Dem Jan 2018 #7
Oh goody, now Trump can nominate another unqualified idiot to destroy the country. procon Jan 2018 #8
Like a CDC head who buys tobacco stocks AFTER being named head of the CDC? underpants Jan 2018 #10
Nice economy you have there... MrScorpio Jan 2018 #9
NOW we'll start to see the Trump effect on the economy. Binkie The Clown Jan 2018 #11
Hillary and Obama. smirkymonkey Jan 2018 #13
yes, the economy huge, very huge and biggly elmac Jan 2018 #12
During the campaign he claimed she was propping up the economy IronLionZion Jan 2018 #14
I was reading up on the effect on bonds this morning. underpants Jan 2018 #16
Some more reading for you if interested IronLionZion Jan 2018 #21
Thanks underpants Jan 2018 #22
I think Presidents usu. appoint their own person, when the prior one's assignment ends? Honeycombe8 Jan 2018 #15
Jerome Powell has already been confirmed. There is overlap though underpants Jan 2018 #17
This is one appt that looks to be qualified. Honeycombe8 Jan 2018 #19
Rebel Yellen Puzzledtraveller Jan 2018 #18
He is beyond stupid. trof Jan 2018 #20

unblock

(52,503 posts)
6. typical of republicans. they still think greenie was a genius but can't find a kind word for yellen
Wed Jan 31, 2018, 05:20 PM
Jan 2018

whatever greenie did technically at the fed -- and it was definitely hit or miss -- he lost whatever credibility he had when he testified about what a disaster it would be if the government actually paid off all its debt.

this was a wildly fantastical freakout response to an actual reduction of debt by less than 2%.

that idiotic fantasy promised all manner of disaster and soviet-style government takeover of businesses in the event the government actually never changed policies enough to pay down 100% the debt and then kept raking in money still without changing policies.

it was used as a pretense to pass shrub's disastrous tax cut, which returned us to ballooning deficits.


but that's someone they hail as a hero, while yellen, who did nearly everything almost as perfectly as you could ask for, in unprecedented circumstances, she gets cast aside.

and obama appointee *and* a woman, no less. she never stood a chance in donnie's world.

procon

(15,805 posts)
8. Oh goody, now Trump can nominate another unqualified idiot to destroy the country.
Wed Jan 31, 2018, 06:05 PM
Jan 2018

Start burying your money in the backyard folks, when the economy goes south this time, Obama won't be around to save us.

IronLionZion

(45,667 posts)
14. During the campaign he claimed she was propping up the economy
Wed Jan 31, 2018, 08:12 PM
Jan 2018

to help Obama and Hillary. He repeated it often that her stimulus needs to stop and they should raise interest rates.

The ultimate irony would be if they do raise rates faster than planned and it stops the epic stock market rally and wipes the smile off dipshit's smug face. He'd still blame Obama somehow.

The other irony is that dipshit's tax cuts are having effects on bond markets that he's not going to like. Treasury needs to sell more bonds to compensate for the loss in revenue.

IronLionZion

(45,667 posts)
21. Some more reading for you if interested
Wed Jan 31, 2018, 09:00 PM
Jan 2018
http://money.cnn.com/2018/01/16/investing/bonds-market-stocks-inflation/index.html

Tax reform could make the inflation problem even worse. Some analysts argued that the economy didn't need stimulating at a time when the economy was already strong and the stock market was roaring.

Paul Mortimer-Lee, chief market economist at BNP Paribas, said in an interview with CNNMoney on Tuesday that he thinks the yield on the 10-Year Treasury -- currently about 2.54% -- will hit 3% by the end of the year.

"Tax reform is a good idea, but what wasn't was such a big tax giveaway to business at a time when the U.S. is close to full employment," Mortimer-Lee said. "The market and economy could wind up overheating."

Honeycombe8

(37,648 posts)
15. I think Presidents usu. appoint their own person, when the prior one's assignment ends?
Wed Jan 31, 2018, 08:20 PM
Jan 2018

I think this is normal, isn't it? She knew last year she'd be exiting this year.

She was supposedly really good. We were lucky to have her in that role, I guess.

Honeycombe8

(37,648 posts)
19. This is one appt that looks to be qualified.
Wed Jan 31, 2018, 08:34 PM
Jan 2018

This is one appt where the person seems to be qualified. He's been on the Fed Res Board for some years. Hope he continues the s-l-o-w raising of interest rates.
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