Super Stupid

Trump Muses About The Fed Chairwoman Who Got Away

SK Ashby
Written by SK Ashby

Trump doesn't like Federal Reserve Chairman Jerome Powell.

Although Trump chose Powell for the position, he doesn't approve of the Fed's decision to slowly raise interest rates above zero in response to rising inflation that Trump's policies -- from his trade war to his tax cuts -- are largely responsible for.

Trump could have simply renominated former Federal Reserve Chairwoman Janet Yellen instead of Powell, Trump has privately said, but there was one thing in particular about Yellen that he did not like according to the Washington Post.

Trump participated in an interview with the Post in which he nonsensically blamed Jerome Powell for General Motors' recent decision to close factories. Trump also expressed regret that he didn't keep Janet Yellen, but the Post reports that Trump told his staff that she was too short before he nominated Powell instead.

Trump considered reappointing Yellen to the post, and she impressed him greatly during an interview, according to people briefed on their encounter. But advisers steered him away from renominating her, telling him that he should have his own person in the job.

The president also appeared hung up on Yellen’s height. He told aides on the National Economic Council on several occasions that the 5-foot-3-inch economist was not tall enough to lead the central bank, quizzing them on whether they agreed, current and former officials said.

Yellen may be one inch shorter than the average American woman, but she also would have slowly raised interests rates in the same manner that Powell has.

If you asked him, I have serious doubts that Trump could even explain the process of raising rates or what effect it has.