Janet Yellen, who was chair of the Federal Reserve until 2018, has accused President Donald Trump of a lack of economic knowledge.
by declining to renominate her for another term, choosing Jerome Powell instead. Yellen’s tenure as the first woman to chair the Fed, which sets interest rates, began in 2014 and ended in 2018.
He has since attacked Powell’s steering of the Fed, which has tightened monetary policy as the economy grows strongly, accusing it of it of failing to support his combative trade policy and claiming that policymakers “don’t have a feel for the market.” When asked directly if she thought the president had a grasp of macroeconomics, Yellen replied: “No, I do not.”
“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.
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