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Related: Editorials & Other Articles, Issue Forums, Alliance Forums, Region ForumsYellen is out at The Fed - Saturday
Trump is replacing Janet Yellen, the woman responsible for the economy hes so proud of
Fed Chair Janet Yellens term ends this week because Trump didnt 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, hes 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 markets continued rise. She helped steer the continued economic recovery and guided the return to pre-crisis policy all items President Trump enjoys bragging about.
dchill
(38,626 posts)delisen
(6,050 posts)our economy bigly.
barbtries
(28,824 posts)i really don't think i could hate him any more than i do.
WhiskeyGrinder
(22,522 posts)onethatcares
(16,211 posts)is this where Gowdy is going?
unblock
(52,503 posts)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.
Tarheel_Dem
(31,258 posts)procon
(15,805 posts)Start burying your money in the backyard folks, when the economy goes south this time, Obama won't be around to save us.
underpants
(183,043 posts)MrScorpio
(73,631 posts)It would be a shame if something happened to it.
Binkie The Clown
(7,911 posts)Who will he blame when it crashes and burns?
smirkymonkey
(63,221 posts)Who else?
elmac
(4,642 posts)for the uber rich
IronLionZion
(45,667 posts)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.
underpants
(183,043 posts)IronLionZion
(45,667 posts)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."
underpants
(183,043 posts)Honeycombe8
(37,648 posts)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.
underpants
(183,043 posts)You can see the history here
https://en.m.wikipedia.org/wiki/Chair_of_the_Federal_Reserve
Honeycombe8
(37,648 posts)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.
Puzzledtraveller
(5,937 posts)I wish I knew how to photoshop.
trof
(54,256 posts)Way beyond.