Yellen:
We face great challenges as a country right now. To recover, we must restore the American dream—a society where each person can rise to their potential and dream even bigger for their children. As Treasury Secretary, I will work every day towards rebuilding that dream for all.
No one is dreaming crap until they can measure the future risks.
Janet is still a banker, she knows benking is a pre-requisite, and she hears this from bankers all the time. It is her business. Now Biden has her in tax hunting mode in Congress, and she knows little of that, I can tell you.
This conversation in the Swamp will rapidly turn into the concept of an inflation tax, and both Powell and Yellen are going to argue for Swift freedom in return. And neither of them want another sudden Nixon Shock. That is why we hear about 'side effects' of QE from the Fed, they can no longer hide the problem. Sandbox theory will win this intellectual debate.
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