Posted on 09/28/2016 3:08:02 AM PDT by expat_panama
Even with two years remaining in her term, Federal Reserve Chairwoman Janet Yellen may quit if Donald Trump is elected president, an economist argued on Tuesday.
Paul Ashworth, chief U.S. economist at Capital Economics, said in a note to clients that Trump doubled down on criticism of the Fed during his debate with Hillary Clinton.
Trump said the U.S. economy is in a “big, fat, ugly bubble” and specifically called out Yellen.
“And we have a Fed that’s doing political things. This Janet Yellen of the Fed,” he said. “The day Obama goes off, and he leaves, and goes out to the golf course for the rest of his life to play golf, when they raise interest rates, you’re going to see some very bad things happen, because the Fed is not doing their job...
...he would continue with his public criticisms of the Fed in the run-up to that meeting, arguing that a rate hike would be a political attempt to damage the economy ahead of his presidency. The main reason for believing that Yellen would resign almost immediately is that falling on her sword would take some of the political heat off the rest of the FOMC...
...Trump would in turn be more likely to nominate someone who would bow to political pressure — and leave interest rates lower for even longer than the Yellen-led Fed would have done.
(Excerpt) Read more at marketwatch.com ...
So make everything the Fed does entirely political?
I doubt you will have to work very hard at that.
I heard Alex Jones say that Trump wants to, ‘audit the Fed’ like Rand/Ron Paul. Is this so? Has anyone heard Trump actually say this? I’ve heard many campaign rally speeches including the one to the Detroit Economic Club and don’t remember Trump mentioning the Fed.
Trump taking this issue on will go far with disillusioned millennials. If the Pauls would stand at Trump’s side while he says it would be even better.
Bubble time-bomb left by Dems. quantitative easing to hernia collapse. Interest held down to pump equities.
When free money ends....
When you say "audit the Fed" what exactly do you mean?
Audit the Federal Reserve
The Federal Reserve is the chief culprit behind the economic crisis. Its unchecked power to create endless amounts of money out of thin air brought us the boom and bust cycle and causes one financial bubble after another. Since the Fed’s creation in 1913 the dollar has lost more than 96% of its value, and by recklessly inflating the money supply the Fed continues to distort interest rates and intentionally erodes the value of the dollar.
For the past 30 years, Congressman Ron Paul has worked tirelessly to bring much-needed transparency and accountability to the secretive bank. And in 2009 and 2010 his unfaltering dedication showed astonishing results: HR 1207, the bill to audit the Federal Reserve, swept the country and made the central bankers shudder at their desks. The bill passed as an amendment both in the House Financial Services Committee and in the House itself.
More:
http://www.ronpaul.com/audit-the-federal-reserve-hr-1207/
So if it is not a financial audit you are referring to then what are you looking for?
The time for sugar coating and covering their own, as well as 0bama’s @ss, NEEDS to be OVER. The American Taxpayer is owed THE TRUTH more than anything else. Rip off the freakin’ bandaid, FIRE these USELESS financial POSERS and let’s get ON with it!
‘We The People’ can take it from there.
Trump will have a pen and a phone...just like 0bama did! He can do ANYTHING he d@mn well pleases; the precedence has been set!
*SMIRK*
I would hope that a Trump administration would bring us back to a time of respect for the Constitution and the rule of law.
I honestly don’t know. I know the millennials in my life say the phrase a lot. I assume it’s some sort of accountability and transparency.
I'm not sure how much more transparent the Fed can be from a financial audit standpoint. Maybe the millennials need to give it some more thought and let us know exactly what they are looking for because I'm pretty sure they have no idea how the Fed works currently.
Perhaps there are some insights in my earlier Ron Paul link. :^)
Unfortunately no. Paul offers no specifics and apparently is laboring under some misconceptions. Audit by the GAO? As an office of Congress legally the GAO cannot do a complete financial audit of the fed. But they audit certain functions, receive reports from the Fed, and of course have access to the reports from the internal and external auditors. But really what Paul seems to be calling for is an end to Fed independence and oversight of the Feds policies and actions by Congress. So please tell me how, under those circumstances, the Fed's actions could be anything but politically motivated by whichever party holds control at the time?
Me, too. I was just being a smart@ss. :)
Yellen is afraid to make a move. She sounds smart, but she really isn’t. Just canned responses, but ZERO leadership.
As they say in government, personnel is policy.
When it comes to interest rates Yellen is one vote of ten. On the Fed Board of Governors she is one vote of five. For all you know she is voting to raise rates.
I’ve listened to her speak. I know what she thinks because she says so.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.