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Column: Interest rates this low kill the incentive to save, invest

In 2014, Janet Yellen was named chairman of the Federal Reserve Board, succeeding Ben Bernanke.
Under Bernanke the Fed failed to exhibit the leadership necessary to maintain the independence Congress intended. Instead, the board became a partner to the White House, correlating the monetary policies of the Federal Reserve with the administration’s fiscal policies.
The result has been a disastrous federal debt of over $19 trillion and monetary policies that will ultimately lead to inflation pressures or worse when we finally deal with it.