Fed will need ‘great skill’ and ‘good luck’ to bring down inflation without crashing the economy, Yellen says

MarketWatch/Greg Robb/9-11-2022

“The Biden administration has been supportive of the Fed’s rate hikes this year. Harvard Professor Jason Furman said Biden is a rare president for his support for a deliberate attempt to slow the economy.”

USAGOLD note: Not a confidence builder to think that the fumbling Fed will require good luck to keep the economy afloat…… If the Treasury Secretary is right on this she will not take a great deal of comfort knowing that it will cost the Fed and the Biden government dearly. It has not been a good year for Janet Yellen thus far.