Trump vs. Yellen: Who's better at economic policy?
Former Federal Reserve Chairman, Janet Yellen, said President Trump doesn’t understand economic policy.
When asked during an interview with “Marketplace” whether she thought the President knows macroeconomic policy, Yellen responded that he does not.
"He's made comments about the Fed having an exchange rate objective in order to support his trade plans, or possibly targeting the U.S. balance of trade." Yellen said. "I think comments like that shows a lack of understanding of the impact of the Fed on the economy, and appropriate policy goals."
But former Obama Economic Adviser, Robert Wolf, was critical of Yellen over Fed policy.
"I thought the Fed was off when they did quantitative easing the third time,” Wolf said on FOX Business’ “Bulls & Bears" on Monday. “I also didn't think we needed nine straight rate hikes, so to me there's definitely issues with the Fed."
Likewise in Wolf’s opinion, the president also doesn’t grasp certain issues.
"I also don't think when the president says a trade deficit is our losses and when he doesn't realize tariffs are taxes -- those things I have issues with as well," he said.
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President Trump and the Federal Reserve have had a contentious relationship for much of the past year with the president making a number of public comments directly criticizing the Fed.