Biden’s Secretary of the Treasury, Janet Yellen. Photo courtesy of the World Bank While President Trump is engaged in active combat with Federal Reserve Chairman Jerome Powell and is moving to replace Federal Reserve Governor Lisa Cook, critics claim it would politicize the Fed. Yet the Fed and Treasury had already been politicized under Biden. The Fed cut interest rates ahead of the 2024 election to make Biden’s failed economic policies look better. At the same time, Treasury Secretary Janet Yellen helped Biden avert a recession by redefining what counts as a recession. Under Biden, inflation hit a forty-year high, and the administration’s claims of record job creation were revised sharply downward on three separate occasions. By the end of his term, the economy…
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