Bloomberg/Saleha Mohsin/6-15-2022
“Instead, Yellen now finds herself in the middle of a brawl in Washington, where the latest worry is that the Fed’s quest to tame inflation will plunge the country into a recession, pushing up unemployment from the historic lows achieved under Yellen. Administration officials dismiss such talk, with Yellen also saying that she sees ‘nothing to suggest a recession is in the works.’”
USAGOLD note: We have to ask. Why would she take a job she never wanted? Two, if she doesn’t want the job, why hasn’t she resigned? Three, and most importantly, why did she stay silent if her thinking on inflation did change in September of last year as this article claims? Now she sees no evidence of a recession?? …… No doubt, her surrender to the White House’s political messaging on inflation and the economy has undermined her credibility. The backtracking on inflation and fiscal stimulus hasn’t helped.
Cartoon courtesy of MichaelPRamirez.com
