Tuesday, November 24, 2020

Everyone Cheers for Yellen


Michael Every of Rabobank wrote on ZeroHedge:

Yellen’s long career arc from academic economics to economic advisor to presidents, then to Fed chief, and now to economic chief for a president, has not exactly overlapped with a concurrent period of relative American economic ascent – or at least not for the majority of its population. Yellen of course expressed her concerns over inequality as far back as September 2014: yet the central conclusion of that speech was that the poor would be less poor if only they had more assets.

Reuters reported in April 2018, two months after she left the top job at the Fed:

Janet Yellen cashed in with her first paid visit to Wall Street since stepping down as Federal Reserve chair, discussing rate hikes and U.S. President Donald Trump at events on Monday that included a dinner for 40 at a CEO’s Manhattan penthouse.

Over the penthouse dinner of lobster, beef short ribs and matzo in the trendy Tribeca neighborhood, Yellen held court with executives from hedge funds, private equity firms and companies, according to two people briefed on the gathering.

The greed and leverage boys are front and center in President Elect Joe Biden's nominations.  Loud cheers for President Elect Biden's Treasury nominee.  Everyone loves Yellen, ..  

Politicians Red and Blue love PEU.