Asked if she thinks Trump 'has a grasp of economic policy,' Yellen bluntly responded, 'No, I do not.'
, Yellen bluntly said, “no, I do not” when asked whether she thinks Trump had a “grasp” on macroeconomic policy.
‘I doubt that he would even be able to say that the Fed’s goals are maximum employment and price stability, which are the goals that Congress has assigned to the Fed. 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 Fed has subsequently reversed its bias on interest rates and said it may stop reducing the balance sheet this year.
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