As News About ‘Deplorables’ And Pneumonia Raged, Trump Blasted Janet Yellen

From NPR:

But then Hillary Clinton had a terrible few days. First, she declared that half of all Trump supporters belong to a “basket of deplorables” that includes racists, sexists, homophobic people, and other broadly biased groups — a soundbite that Trump quickly made into an attack ad. Then she appeared weak and wobbly as she left a memorial ceremony commemorating the September 11th attacks early, emboldening Trump supporters who had been questioning her health for weeks.

While Clinton’s “deplorables” comment and pneumonia made the headlines and cable chyrons on Monday morning, Trump didn’t stay entirely quiet, and made a bit of under-the-radar news himself. Here’s a roundup of the what you may have missed:

Trump Claims Janet Yellen Should Be “Ashamed”

On Monday morning, Trump told CNBC that he thinks Federal Reserve Chair Janet Yellen is playing politics with monetary policy, trying to goose economic growth with low interest rates to help Obama’s legacy.

“Well it’s staying at zero because she’s obviously political, and she’s doing what Obama wants her to do,” he said.

(Trump hasn’t always been so opposed to Yellen; in an April interview, he said she was doing a “serviceable” job as Fed Chair.)

While it’s true that presidents can nominate Fed chairs who share their economic views, the president doesn’t control Fed policy.

One safeguard against this is that members of the Board of Governors are appointed for 14-year terms, meaning they will necessarily serve during multiple presidents’ administrations. In addition, the Chair’s terms don’t match up to the president’s terms. When President Obama took office, the George W. Bush-appointed Ben Bernanke was Fed Chair, whom Obama later reappointed. If elected, Trump couldn’t replace Janet Yellen as chair until early 2018.

Furthermore, Trump seemed to imply that the president can change interest rates. He said …

Continue Reading