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https://www.wsj.com/articles/janet-yellen-blames-everybody-else-for-the-financial-panic-svb-signature-banking-system-treasury-san-francisco-federal-reserve-e715ded3
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Janet Yellen has been a disappointment as Treasury secretary, and she would have done less harm to her reputation had she left after the midterm election. Her speech last Thursday trying to explain the latest financial panic is a remarkable exercise in blaming everyone other than the real culprits.
Ms. Yellen has an admittedly heavy explanatory lift because this financial trouble wasn’t supposed to happen. The economy was in great shape, she and President Biden kept telling us. Inflation was transitory, and when she suddenly had to admit it wasn’t, she said it would fall soon enough.
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Copyright ©2023 Dow Jones & Company, Inc. All Rights Reserved
This copy is for your personal, non-commercial use only. Distribution and use of this material are governed by our Subscriber Agreement and by copyright law. For non-personal use or to order multiple copies, please contact Dow Jones Reprints at 1-800-843-0008 or visit www.djreprints.com.
