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Former US Treasury Secretary Yellen: Firing Powell Illegal and Dangerous, US Credibility at Risk

Summary: In response to the controversy sparked by Trump's firing of Federal Reserve Chairman Powell, former US Treasury Secretary Yellen stated that Trump's claim of firing Powell for cause is not only illegal but also extremely dangerous. This move is seen as a direct attempt to politicize the Federal Reserve, intimidate its leadership, and try to ...

In response to the controversy sparked by Trump's firing of Federal Reserve Chairman Powell, former US Treasury Secretary Yellen stated that Trump's claim of firing Powell for cause is not only illegal but also extremely dangerous. This move is seen as a direct attempt to politicize the Federal Reserve, intimidate its leadership, and try to force monetary policy to conform to the President's will. Yellen called on Congress to defend the Fed's independence, the courts to reject this illegal abuse of power, and the financial sector to speak out against this direct attack on the credibility of the US dollar.

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Link: Former US Treasury Secretary Yellen: Firing Powell Illegal and Dangerous, US Credibility at Risk [Copy]

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