Trump Ignores the Issue that Voters Care About Most
Under Yellen's leadership, the Fed has been notorious for its exaggerated, and ultimately false, forecasts that the Obama economy was making a comeback, only to see its growth rate decline to alarming levels. That rate shrank to 1.4 percent in last year's fourth quarter, then plummeted to 0.8 percent in the first three months of this year.
And the Fed doesn't expect the Obama economy to do much better over the next two years.
"Yellen also broke out the phrase 'new normal' to explain why central bank officials expect rates and economic growth to remain low through 2018," the CNBC business network reported Thursday. The Fed cut its economic growth forecast Wednesday from 2.2 percent to 2 percent for the year, a failing rate by any measure.