Forum Thread

The case for Janet Yellen as Fed Chair

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  • Liberal Democrat
    Democrat
    Colorado Springs, CO
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    Janet Yellen was appointed as Federal Reserve Chair by President Obama in 2014. Her 4 year term is up on February 1, 2018. Past presidents have traditionally asked the existing Fed Chairs to serve at least one more term, and many prominent news sources (Wall Street Journal, New York Times, USA Today, CNN Money, amongst others) are asking Trump to reappoint Yellen to another term. She is highly qualified in her position and gets good reviews from economists across the nation.

    However, she has one black mark against her. She was appointed by President Obama, and Trump is determined to erase Obama's legacy in every way possible.

    And there is something else. Trump wants control and he cannot control what Yellen says or does. She will be replaced by a Trump friendly person. However, Trump's recent comment on the issue to Fox News has raised eyebrows whether he really understands what the Fed Chair responsibilities are:

    "Take the Fed out," [Trump said]. "That's a very important position. It's also important psychotically. If the right person is there a lot of good things can happen. I think I'm doing a good job for businesses that way. People are coming into the country; you saw what happened with Foxconn going to Wisconsin."

    WTF!

  • Liberal Democrat
    Democrat
    Kenosha, WI
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    That's all folks.

  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    It would be awesome to have her serve at least one more term, but I agree that it's very unlikely since the hated black President previously nominated her.
  • Strongly Liberal Democrat
    Democrat
    Portland, OR
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    Not surprisingly, Donald decided to do away with decades of precedent and not tap Janet Yellen for a second five year term. The only silver lining is that he didn't choose someone badshit crazy by going with Jerome Powell. I don't know much about him, but it's being reported that he is closely aligned with Yellen camp on the Federal Reserve.

    Maybe Donald was convinced by some adults in the room that nominating a crazy person might not be in his best interest.

  • Independent
    Ft.myers, FL
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    jaredsxtn Wrote:

    Not surprisingly, Donald decided to do away with decades of precedent and not tap Janet Yellen for a second five year term. The only silver lining is that he didn't choose someone badshit crazy by going with Jerome Powell. I don't know much about him, but it's being reported that he is closely aligned with Yellen camp on the Federal Reserve.

    Maybe Donald was convinced by some adults in the room that nominating a crazy person might not be in his best interest.

    Why not keep an experienced person in the job; this guy needs an new learning curve; just alone because Obama appointed her; how crazy can you get. Right now due to all his in-experienced appointments the whole government has become an huge mess. Trumpisment above common sense.