Yellen: “We’ve lived through a devastating economic decline”
That was caused directly and deliberately by Fed policies that forced people to speculate and reach for yield in high-risk housing debt.
And guess what – the Fed did it again and we are now facing a catastrophic economic decline.
You know, anyone can call themselves an economist. There’s no professional qualification of any kind. Nor is there any form of professional ethics, liability or accountability as there is for an actual professional such as a lawyer or an engineer. We let these people pontificate and take huge risks with our economy, and never hold them to any kind of responsibility for outcomes of their decisions or forecasts.