Janet Yellen - Remember her?? She's going to be the new Treasury Secretary

[JSOP]

Biden just named her to lead the Treasury department. https://www.marketwatch.com/story/b...ry-secretary-wsj-2020-11-23?mod=mw_latestnews

Boy Democrats just LOVE her. She was the Fed Reserve Chairwoman under Obama but was ditched by Trump which is a bit unusual cuz that post is usually for life. Now she's back!! She was a huge hawk (China must've loved her) when she was the fed reserve chair let's see what she will do as the Treasury head. She reversed lots of economic stimulating Fed Reserve policies that were implemented during the subprime mortgage financial crisis when she became the chairwoman so wonder what she will do as the Treasury. She did defend the Fed stimulus bill during the financial crisis 2008 so is that what she would do as the Treasury head, to pump in more $$ into the economy??

 

[piezoe]

cuz that post is usually for life.

No. May I respectfully suggest you learn something about how the Fed works before posting.

Yellen will be highly competent as Treasury Secretary. Despite appearances, the Treasury and Fed are really two highly coordinated operations made by statute to have the outward appearance of two independent operations. They are not, as examination of the consolidated books of the two agencies would show.

 

[TimMykes]

grandma?

 

[SunTrader]

Better she is at Treasury than back at the Fed. Not that Powell is any better.

 

[David's faith]

The ship of Murica is sinking regardless who's steering it, point of no return is long in the past. She may move the markets in a bullish direction but she is no game changer. (Not trolling - just that I don't think it does any difference outside of trading.)

 

[bone]

Secretary of the Treasury is a Cabinet Appointment by the President and confirmed by the US Senate. The Treasury Secretary serves at the pleasure of the President.

The Chairman of the Federal Reserve is a four year term that is Nominated by the President and confirmed by the US Senate. The Chair can serve multiple terms.

She was the Fed Reserve Chairwoman under Obama but was ditched by Trump which is a bit unusual cuz that post is usually for life.

 

[bone]

You're either trolling, or have no sense of historical context and proportion. Either way, it's a silly post.

The ship of Murica is sinking regardless who's steering it, point of no return is long in the past. She may move the markets in a bullish direction but she is no game changer. (Not trolling - just that I don't think it does any difference outside of trading.)

 

[JSOP]

No. May I respectfully suggest you learn something about how the Fed works before posting.

Yellen will be highly competent as Treasury Secretary. Despite appearances, the Treasury and Fed are really two highly coordinated operations made by statute to have the outward appearance of two independent operations. They are not, as examination of the consolidated books of the two agencies would show.

Never said she will be incompetent. Just wondering what she would do as Treasury secretary given what she did as the Fed Reserve chairwoman. My guess is she will try to get the Stimulus Bill passed and then expect Powell to keep the interest rate at 0 to accommodate stimulus bill if the two entities are indeed so highly coordinated as you stated.

 

[JSOP]

Secretary of the Treasury is a Cabinet Appointment by the President and confirmed by the US Senate. The Treasury Secretary serves at the pleasure of the President.

The Chairman of the Federal Reserve is a four year term that is Nominated by the President and confirmed by the US Senate. The Chair can serve multiple terms.

So you think Senate is going to confirm Yellen considering what she might be doing with the stimulus or what Biden might be expecting her to do?

 

[bone]

1. Yes, she'll get confirmed.

2. She is little more than a cheerleader or adviser on the Stimulus matter. The Treasury Secretary cannot simply go out and spend 2 Trillion dollars as she pleases. It is up to Congress and the Senate to make laws and that includes spending bills.

So you think Senate is going to confirm Yellen considering what she might be doing with the stimulus or what Biden might be expecting her to do?