Former Fed Chair Yellen says keep rates lower for longer, let the economy rip
Janet Yellen was speaking at a Brookings Institution conference, said let the economy boom
- "By keeping interest rates unusually low after the zero lower bound no longer binds, the lower-for-longer approach promises, in effect, to allow the economy to boom
- The (Federal Open Market Committee) needs to make a credible statement endorsing such an approach, ideally before the next downturn."
Remember, Yellen is not in a position to have a vote or an official input inot policy, but her remarks would not be too far from what some current Committee members are thinking.
Trump will like what she says, maybe he'll reappoint her? (Just joking)
Maybe she was just having a little fun with the Prez - what might have been if she was kept on