Federal Reserve has done a ‘good job’ under Powell
Federal Reserve Chair Janet Yellen (L) congratulates Fed Governor Jerome Powell at his swearing-in ceremony for a new term on the Fed’s board, in Washington in this handout photo taken and released June 16, 2014.
US Federal Reserve | Reuters
Treasury Secretary Janet Yellen on Thursday offered high marks for the Federal Reserve and how central bank officials navigated the U.S. economy throughout the coronavirus pandemic.
Yellen told CNBC that the Fed has “done a good job” in recent months under the direction of Chairman Jerome Powell. Yellen led the central bank until her term expired in 2018, when former President Donald Trump opted to appoint Powell, a Republican.
Asked whether she would support Powell for a second term as Fed chairman in the midst of rising inflation, Yellen deflected.
“That’s a discussion I’m going to have with the president,” Yellen said during an interview that aired on CNBC’s “Closing Bell.”
“I’ve given you my own…