Joe Biden (photo by shutterstock, unsplash)
A US report citing one of President Joe Biden’s advisers says that the White House is expected to demand Treasury Secretary Janet Yellen and National Economic Council Chairman Brian Deese leave their positions immediately after the US midterm elections. The report He also says that the two will remain in their positions (or at least Janet Yellen), if the American economy gets into a storm and this to avoid unnecessary shocks.
The report points to a series of positions expressed by Yellen in recent times that did not support President Joe Biden. For example, when the president blamed the giant corporations for inflation in the US, Yellen took exception to his words as well as his plan to forgive student debts in small amounts.
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The report also says that Yellen does not express herself too much on political issues, which means that she is not a political supporter of the president.
Yellen was appointed chairman of the Federal Reserve in a term that is considered good mainly due to the stability that was maintained and the continuity of the policy after the term of Ben Bernanke who was forced to make difficult decisions of massively injecting money into the markets to avoid a recession in the style of the Great Depression of the 1930s.
Yellen was appointed as Joe Biden’s Treasury Secretary because he mainly wanted to restore cooperation and trust between the various branches of the government and the public and the same after the colorful tenure of the previous president, Donald Trump. Biden wanted to broadcast professionally and Yellen was the right appointment for that.
He mentioned that the American economy is at the beginning of a significant economic crisis resulting from high inflation which necessitates an increase in interest rates accordingly. The high inflation and high interest rates are beginning to show their signs in the American public, therefore President Biden is trying to find any way to make it easier for the public and the way to make political profit, and Yelen is apparently preventing him from doing this, which will bring her to the end of her position – at least according to the various reports.
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