Was anyone truly surprised by Federal Reserve Chair Janet Yellen’s testimony in front of the Senate on Tuesday? Probably not. Of course she would say the economy is improving. Of course she would oppose the Audit the Fed bill because it “politicizes” monetary policy (isn’t it already?). Of course she wouldn’t give a distinct answer on raising interest rates this summer. Indeed, she should read more Ludwig von Mises and spend less time mimicking Woody Allen.
As Robert Wenzel of Economic Policy Journal wrote, Yellen took the Alan Greenspan approach to congressional testimony.
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