By Free Republic | Created at 2024-11-24 11:22:12 | Updated at 2024-11-24 14:12:28
3 hours ago
Janet Yellen departs from office — as she leaves a trail of mess behind her
NY Post ^ | 11/23/24 | Charles Gasparino
Posted on 11/24/2024 3:00:10 AM PST by Libloather
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 his handling of the economy during his first term — job growth and wages that kept place with a low inflation rate.
Despite her gold-plated résumé, Ivy League degrees, and time served as Fed chair, Yellen gave the country just the opposite. Her boss paid the price politically as the American people paid the price economically.
And according to my sources, the American people aren’t done paying the price for Yellen’s mismanagement even if most of the financial media is overlooking the fiscal time bomb she devised — one that could blow up once Trump takes office.
Specifically, my sources who follow the bond market say Yellen has been setting a trap for the incoming Trump administration through the way she financed the massive $1.8 trillion federal budget deficit that exploded during the Biden years with the accumulation of $36 trillion in debt.
(Excerpt) Read more at nypost.com ...
TOPICS: Business/Economy; Conspiracy; History; Local News
KEYWORDS: mess; secretary; treasury; yellen
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Sounds bad.
1 posted on 11/24/2024 3:00:10 AM PST by Libloather
To: Libloather
Janet Yellen departs from office — as she leaves a trail of mess behind her
A total mess, but the treasurer doesn't really do anything. They're just the national accountant. The Congress controls fiscal policy and the Fed controls monetary policy, and neither can make hard decisions to fix the currency and country's finances, so more inflation here we go.
To: Libloather
Between her time as Fed Chairman and Treasury Secretary, rarely has one person done so much damage to so many people, the vast majority of which are the working middle class.
She’s personally destroyed the financial security of millions of Americans.
3 posted on 11/24/2024 3:08:30 AM PST by srmanuel ( the)
To: Libloather
Janet Yellen should have retired years ago, bought herself a big floppy sunhat, and puttered away retirement in a garden. Her failure to retire in a timely manner has cost us a great deal of money.
4 posted on 11/24/2024 3:10:48 AM PST by NautiNurse (With a cough and a sputter, the original lying dog-faced pony soldier is led out to pasture. )
To: srmanuel
She’s personally destroyed the financial security of millions of Americans.
I disagree with you somewhat on this. So-called "conservative" Jerome Powell, as Fed chairman, printed massive amounts of money in the COVID era (2020-21) that we're still paying for today. If Yellen was Fed chairman at the time, would it have been worse? Probably, but we'll never know.
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