GOOD RIDDANCE: Janet Yellen leaving Federal Reserve in 2018

Janet Yellen announced on Monday that she will be leaving the Federal Reserve once Jerome Powell is sworn in as the new Chair of the United States central bank.

The only thing we can say is: good riddance!

She said in a statement:

“As I prepare to leave the Board, I am gratified that the financial system is much stronger than a decade ago, better able to withstand future bouts of instability and continue supporting the economic aspirations of American families and businesses.

“Sustaining this progress will require continued monitoring of, and decisive responses to, newly emerging threats to financial and economic stability.

“I am confident that my successor as chair, Jerome Powell, is deeply committed to that mission and I will do my utmost to ensure a smooth transition.”

Unfortunately, Yellen is just part of a much bigger system that needs to be audited, drained and abolished. Remember, no matter who is leading the Fed – Alan Greenspan, Ben Bernanke, Yellen or Powell – the central bank will continue to wreak havoc on the national economy.

Powell should receive some level of sympathy because he will be the one leading the charge to unwind the $4.5 trillion balance sheet.

Here is Yellen at her worst:

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