Wednesday, December 14, 2016

New York Post Columnist: Janet Yellen Needs to Announce Her Resignation

New York Post columnist John Crudele is calling for Fed Chair Janet Yellen to resign.

He writes:
If Janet Yellen had any class, she wouldn’t just be announcing an interest rate hike this week — she would also be offering her resignation.
Yellen was appointed chair of the Federal Reserve by President Obama in 2014. While most heads of government agencies will soon be offering their resignations to President-elect Donald Trump, the Fed is not a government agency.
It’s an independent entity.
Which means Yellen doesn’t have to resign. Her term as chair — which makes her, perhaps, the second-most powerful person in Washington — doesn’t end until January 2018.
The problem is that Trump appears  to understand nothing about Federal Reserve monetray policy and how it impacts the economy. He appears to be a surface-Keynesian. I do not believe he has read The General Theory.



  1. I always thought "The General Theory" qualified as fake news. And that the triumph of Keynes over Hayek was almost identical to "the Russians did it" meme.

    Keynesians always lie.

  2. It's a little weird seeing this author complain about the feds independence while also complaining about the feds affect on the 2008 financial crisis and on transfers of wealth. Easy to complain, but we don't know jack about this guy until he puts up his own position on these things.