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by webninja 1 day ago
I am a U.S. citizen so I have a stake in the success or failure of our country. Old Dinosaur Janet Yellen single handedly added more to the U.S. federal debt more than any other person in modern history. The damage she did, is the kind of damage someone would historically burn at the stake for. Trillions of debt that your future kids will have to repay casually makes you want to bring up the topic of back tar and feathering. I don’t know enough about Kevin Warsh yet to comment about him but Powell (unlike Janet) was at least very at his job, even if he frequently treated lagging economic indicators like leading indicator. Through lagging heavy actions that made me wealthy enough to put a down-payment on a house, Powell turned the Fed from a fairly unknown, hidden organization into a household name. The Fed should not be as popular as a celebrity on TMZ because it brings politics and incompetent influencers into the decision outcomes.
2 comments

It is misleading to imply she personally chose to create that debt. Congress and the President decided on it, she was simply the head of the Treasury department responsible for financing them. And the "them" is Covid, the CHIPs act, interest rates and refinancing.
It wasn't Janet Yellen who holds the record, it was Marriner Eccles, who took it from 40% of GDP to 112% of GDP. Who woulda thought debt would blow out from such a silly thing as a world war, or a pandemic?