Janet Yellen says Trump has a 'lack of understanding' of Fed policies and the economy

[fleur-de-lisa]

https://www.cnbc.com/2019/02/25/janet-yellen-says-trump-has-a-lack-of-understanding-of-fed-policies-and-the-economy.html

Former Federal Reserve Chair Janet Yellen has taken plenty of hits from President Donald Trump. Now she's delivering a few of her own. In a radio interview Monday, the ex-central bank chief questioned Trump's comprehension of monetary policy as well as his understanding of basis economics.

Asked if she thinks the president "has a grasp of economic policy," Yellen flatly responded, "No, I do not."

"Well, I doubt that he would even be able to say that the Fed's goals are maximum employment and price stability, which is the goals that Congress have assigned to the Fed," she added in the interview with American Public Media's "Marketplace." "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. 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 goals."

The comments mark a departure for Yellen, who has mostly handled her issues with Trump by not saying much of anything.

[jcgoldie]

1. Guess we should have picked a president who knows something about business and economics

Oh wait that's supposed to be what he does know about. Uhm if he's completely ignorant of that, then what does he know?