The US was the world's number one economy before the Fed came along -- FACT.
And then...
This is what Yellen said in 2007 before the housing bubble:
"The bottom line for housing is that the concerns we used to hear about the possibility of a devastating collapse—one that might be big enough to cause a recession in the U.S. economy—while not fully allayed have diminished. Moreover, while the future for housing activity remains uncertain, I think there is a reasonable chance that housing is in the process of stabilizing, which would mean that it would put a considerably smaller drag on the economy going forward."
Almost as inane as Krugman at the time.
And just a few months later, she offered up this gem:
To sum up the story on the outlook for real GDP growth, my own view is that, under appropriate monetary policy, the economy is still likely to achieve a relatively smooth adjustment path, with real GDP growth gradually returning to its roughly 2½ percent trend over the next year or so, and the unemployment rate rising only very gradually to just above its 4¾ percent sustainable level."
Horrifying! face)(*^%
I didn't think a Fed Chair could be any more clueless than Helicopter Ben, but that's what you get when a commie "community organizer" is filling these positions.
Yellen might even be dumber than you, fratfraud! *gasp*
hno:
