Trump is not a gracious man — he takes credit for any good news, to the point of inventing good news where the facts belie. He’s pugnacious in claiming credit for the booming economy, intent on erasing President Obama’s eight years in office, his economic team’s deft handling of the 2008 financial crisis, and the slow but steady recovery that ensued.
So which man deserves more credit for what’s happening in the economy now? In the opinion of Charles Lane, opinion writer for the Washington Post and frequent guest on Fox news, neither. Credit in large measure is due Janet Yellin, who completes her term as Chair of the Federal Reserve.
Most of us have only a vague idea what the Fed actually does. Suffice to say that Yellin’s management of interest rates was right on target, and had more to do with our currently booming economy than anything either President Obama or Trump did.
Trump refused to reappoint her, because she served under President Obama. Not surprising — loyalty counts with Trump, not competence.
But here’s a shout out for Chairman Yellin. Kudos on a job well done.