Former Federal Reserve Chair Janet Yellen is accusing Donald Trump of being ignorant when it comes to macroeconomics and the central bank's mission
BOILER-PIPE: with Marketplace published Monday. "Do you think the president has a grasp of macroeconomic policy?" Marketplace's Kai Ryssdal asked Yellen. Story Continued Below "No, I do not," she replied. Trump, who did not offer Yellen a second term as Fed chief, has repeatedly railed against the central bank for raising interest rates, rankling critics who say the president should respect the Fed's independence. Trump has also attacked U.S.
"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," Yellen, who was replaced by Jerome Powell last year, said in the Marketplace interview. "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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