Things are bad with Biden and he’s lashing out at his team. It was reported last week that the president is disappointed with Vice President Kamala Harris.
And this week, he is going after Treasury Secretary Janet Yellen. According to a new report, she is on thin ice.
The word on the street is that Biden and others in his administration are unhappy with her ability to do her job.
How long was it that she was talking about “transitory” inflation before she had to admit it was real?
Charlie Gasparino reported that officials in the White House have become increasingly concerned about Yellen’s ability to do her job despite her stellar resume and years running the Fed.
People were irritated with her bungled response to inflation and they even talked about possible replacements for her last year like Commerce Secretary Gina Raimondo, and Brian Moynihan, the CEO of Bank of America.
Both of these have definite business experience, whereas Yellen was just in academia and government.
White House advisors are upset about her flip-flops when it comes to whether the government will guarantee deposits of banks if they fail because it sounds like bailouts.
It has been said that she has survived in her position because Biden doesn’t want to fire a woman in such a high-profile position.
One source who works at a large DC-based think-tank wrote, “On one hand they’re kind of stuck with her; it would be bad to get rid of a Treasury Secretary during a banking crisis. On the other hand, they know they don’t have anyone good to be their face in terms of a response.”
This week there was a crazy give-and-take between Sen. John Kennedy (R-LA) and Yellen. He asked the secretary if it was true that Joe Biden’s budget proposes $4.7 trillion in new taxes.
Sec. Yellen: “It does propose significant additional taxes, yes.”
Q: $4.7 TRILLION?
Sec. Yellen: Something like that, yes.
And then she just looked embarrassed.
All this could lead you to worry, but don’t because Janet Yellen says our economy is “performing very well.”
Q: Isn’t it a fact that the president’s proposed budget proposes $4.7 trillion in new taxes?
Sec. Yellen: It does propose significant additional taxes, yes.
Q: $4.7 TRILLION?
Sec. Yellen: Something like that, yes. pic.twitter.com/ncL1CAImlD
— John Kennedy (@SenJohnKennedy) March 23, 2023
Biden Treasury Secretary Janet Yellen: Public opinion of the IRS is "extremely negative" because the IRS isn't large enough pic.twitter.com/PqJljREkcA
— RNC Research (@RNCResearch) March 24, 2023
JANET YELLEN: We have "an economy that is performing very well." pic.twitter.com/pgzKEecElx
— Townhall.com (@townhallcom) March 21, 2023