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have felt whenf members of the congressional black caucus suggested that she janets yellen was in fact a racist, maybe even a white supremacist. what does jenny ellen do wrong? well, they suggested what shest did wrong was she failed to harness the power of the federal reserve to help african-americans specifically now at first yellen seemed confused by this complaint. the point of the fed f is to kep the american economy stable. the point is not to pay off oil blocks democratic voters and she tried to explain this our power she said, can tnc be targeted at the experience of particular groups. th that was her response. but the congressional black caucus did not buy it. r messagt their message to janet yellen was the same as their message. you and every othero person in this country. three hundred and fifty millionn people do it. we say we will denounce as a racist. and finally, janet yellen got that message. boy, did she. within a year yellen had all but abandonedtr th ....
Was consumed with global warming. quote we must look ahead at emerging risks. yellen proclaimed. b climate change is obviously the big one . the worldeletterr to bank telling them the same thing as for inflation, which f is a core concernnm of government economists. that wasmi the emerging risk j they were worried about yellen just shrug that off inflation if that happensed, she told us n a now famous quote it ll be quote transitoryy in the history of bad predictions fro washingtonon which could fill volumes that might take first place. in fact,n, since joe biden becameas president, the price of gasoline has doubled . and so if the prices of many other key commodities that americans need to lives in , the worst part is that not only did janet yellen the treasury secretary, failed to see any of this coming, janet yellen more than any other single person in america causedse in the first place to reckless loose money policies implemented l during her years t the fed policies that were bou ....
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We are going to feel it. you are not going to get rid of the president of china by making them feel some economic pain, the united states is losing from this also, we are not losing as much. i don t know what the long run will be. i don t know the right way to go about it. if you want to assert what this stock market is worried about and what businesses are worried about and why they are not investing, if you want to assert that because of fed policies, that s just nuts. it is mostly this huge unsern uncertainty of what s going on and what is trump in a tweet tomorrow. it is casting over the economy. ken rogoff. thank you for joining us. my pleasure. to politics. moulton drops out. we ll look at where the field stands. you are watching msn velshi & ruhle, live on msnbc. velshi & ruhle, live on msnbc. wayfair s got your perfect mattress. ....
This pledge he has that calls for opposing any increase in tax rates and has been signed, that pledge by nearly every republican in the house. this as we digest some grim news from the federal reserve today. the economy forecasts by the federal reserve is growing more slowly than they previously thought. the fed says its senior officials expect growth of 1.9% to 2.4% this year. that is lower than what they predicted back in april. art laffer, former economic advisor to president reagan. good to have you with us, art. thank you, jenna. jenna: why do you think the fed decided to revise its forecast now? because they were wrong. i mean they have been overestimating the growth and what these policies would do for a long time now. frankly, jenna, i never heard of a economy taxed into prosperity. it doesn t make much sense to me. fed policies and stimulus policies haven t worked. they re just revising down now, catching up with what is really happening unfortunately. jenna: let s talk a ....