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Mon Feb 25, 2019, 08:48 PM

Janet Yellen: Trump Is an Even Bigger Idiot Than He Looks

Janet Yellen: Trump Is an Even Bigger Idiot Than He Looks
The former Federal Reserve chair cannot adequately express how dumb our president is.
by Bess Levin
February 25, 2019 5:56 pm


When you’re actively working for the president of the United States, you can’t just come out and publicly say, “This guy is a complete and total moron,” however accurate or obvious the statement may be. Oh sure, you can say it in private, or in an anonymous op-ed, but attaching your name to such comments is generally considered inadvisable if you want to stay employed. That’s why, during the period in which Janet Yellen served as the chair of the Federal Reserve under Donald Trump, we never heard her telling reporters things like, “He makes the cast of Bachelor in Paradise look smart,” or “I honestly and truly believe my Schnauzer could do a better job.” But as of last February, Yellen no longer works for Trump—because he literally thought she was too short for the gig—and thus is feeling a bit freer in her choice of words.

In an interview with Marketplace’s Kai Ryssdal, Yellen was asked, point blank: “Do you think the president has a grasp of macroeconomic policy?” And instead of dancing around the issue or offering some kind of “I don’t know what’s in his heart” answer, she responded, “No, I do not.” That most of us had a hunch this was the case does not change the fact that it’s shocking Yellen would just come out and say it! And, apparently, macroeconomics is just one of several things she thinks President Buy and Sell knows nothing about, the others being international trade, business, and the entire purpose of the Federal Reserve.

Ryssdal: Tell me more.

Yellen:: 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. 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. . . . I think [his lack of understanding about the effect of his trade tariffs] is . . . creating a lot of uncertainty for businesses, and I think my own view is that those shifts are likely to be adverse for the U.S. economy. . . . And when I continually hear focus by the president and some of his advisers on remedying bilateral trade deficits with other trade partners, I think almost any economist would tell you that there’s no real meaning to bilateral trade deficits, and it’s not an appropriate objective of policy.

Other things that keep Yellen up at night include Trump’s apparent lack of understanding about the Federal Reserve being an independent organization, and how crucial it is for the economy that Americans have confidence in the central bank. (Since appointing Jerome Powell, the president has blamed the Fed for market sell-offs; complained that he should be given “help” in the form of low interest rates; told reporters “the Fed is going loco,”; insisted his “gut” knows more about economics than Powell’s brain; and declared, “The only problem our economy has is the Fed. . . . The Fed is like a powerful golfer who can’t score because he has no touch—he can’t putt!”). “President Trump’s comments about Chair Powell and about the Fed . . . concern me,” Yellen told Ryssdal, “because if that becomes concerted, I think it does have the impact, especially if conditions in the U.S. for any reason were to deteriorate, it could undermine confidence in the Fed. And I think that that would be a bad thing.”

more...

https://www.vanityfair.com/news/2019/02/janet-yellen-donald-trump-interview?utm_social-type=owned&mbid=social_facebook&utm_source=facebook&utm_brand=vf&utm_medium=social&fbclid=IwAR2rwF5qlp7LwXbeZNCEe5iKGgBRu8gREtPvzmZgfik37bxl4Kv7CM2XUFM

12 replies, 1503 views

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Arrow 12 replies Author Time Post
Reply Janet Yellen: Trump Is an Even Bigger Idiot Than He Looks (Original post)
babylonsister Feb 2019 OP
CaliforniaPeggy Feb 2019 #1
dalton99a Feb 2019 #2
alterfurz Feb 2019 #3
ornotna Feb 2019 #6
alterfurz Feb 2019 #7
Blue Owl Feb 2019 #4
smirkymonkey Feb 2019 #5
allgood33 Feb 2019 #8
riverine Feb 2019 #9
babylonsister Feb 2019 #10
lindysalsagal Feb 2019 #11
Yavin4 Feb 2019 #12

Response to babylonsister (Original post)

Mon Feb 25, 2019, 09:05 PM

1. Good for her!

tRump will have trouble with all of this. He has a low opinion of women anyway, and he has no respect for her and her considerable knowledge!

Her opinion is right on and I couldn't agree more.

K&R

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Response to babylonsister (Original post)

Mon Feb 25, 2019, 09:16 PM

2. Kick

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Response to babylonsister (Original post)

Mon Feb 25, 2019, 09:34 PM

3. Groucho concurs

"Gentlemen, Chicolini here may talk like an idiot and look like an idiot. But don't let that fool you. He really is an idiot." -- Duck Soup

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Response to alterfurz (Reply #3)

Mon Feb 25, 2019, 11:09 PM

6. "I implore you,

send him back to his father and brothers, who are waiting for him with open arms in the penitentiary. I suggest that we give him ten years in Leavenworth, or eleven years in Twelveworth."

Ten in Leavenworth sounds good to me.

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Response to ornotna (Reply #6)

Tue Feb 26, 2019, 05:21 AM

7. coming soon in 2020!



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Response to babylonsister (Original post)

Mon Feb 25, 2019, 11:01 PM

4. Bag of hammers relaxing on executive time

n/t

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Response to babylonsister (Original post)

Mon Feb 25, 2019, 11:03 PM

5. K&R

God help us.

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Response to babylonsister (Original post)

Tue Feb 26, 2019, 06:32 AM

8. Why don't networks talk about this instead of Trump grabbing by the again?

 

The media is not helping.

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Response to babylonsister (Original post)

Tue Feb 26, 2019, 10:19 PM

9. Trump is in fact a complete idiot on economics and trade

 

but so is a certain independent Senator who mistakenly wrote that the Fed "gave" trillions of dollars to banks during the 2008-09 financial crisis.

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Response to riverine (Reply #9)

Tue Feb 26, 2019, 10:54 PM

10. Hahaha! I think you're on the wrong thread.

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Response to babylonsister (Original post)

Tue Feb 26, 2019, 10:58 PM

11. Lol

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Response to babylonsister (Original post)

Tue Feb 26, 2019, 11:03 PM

12. I respectfully disagree.

He looks really stupid.

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