The Day Janet Yellen Buried Trump’s Foreign Policy
Revenge is a dish best served cold, as Treasury Secretary.
More than three years after Donald Trump decreed an end to Janet Yellen's tenure as Fed Chair, Yellen effectively decreed an end to Trumpism. Or at least as it relates to US foreign policy.
Headlines on Monday revolved mostly around Yellen's declaration of support for a global minimum corporate tax rate in order to stop what she described as a "race to the bottom," but her remarks on foreign policy were arguably more notable.
"Over th
Fascinating, on many levels.
Okay; so, Trump’s Foreign Policy is dead. Do you believe that other nations will be willing to follow the Biden Administration’s lead? Or that the Biden Administration will be able to cajole, coerce, or persuade them to do so?
Depends. One thing for sure, the US lost a giganormous amount of goodwill and moral high ground with the Iraq War. My impression is that Americans now barely remember they’ve ever been at war in Iraq (or, you know, waged a war of aggression against Iraq). The rest of the world has a longer memory.
But I think Europe and Africa and Asia could be incited to stand up to China and Russia, without much efforts from the USA. Not everyone will. Turkey, maybe Hungary, maybe Brazil, are too far gone. But by and large I believe the US can lead us and meet the threat of China.
Great article. We are lucky to have Janet Yellen. She was my macro professor many, many years ago.
Yellen for President?
Everyone seems to think that President is the key office. Sometimes it isn’t. Right now I’ll take Yellen for the smartest person in the room. By being where she is, she avoids the bulk of the pushback that accompanies the role of the President. I like the feel of the group so far. Mitch does seem to be running scared and like any schoolyard bully he has to make threats. When will at least some of the GOP “No/mads” come back to the adult world?