Janet Yellen Says the US Is Undermining Its Economic Success
The former Treasury secretary warns that Trump’s attacks on the rule of law, the Fed and universities threaten the foundations of American prosperity.
Photo Illustration: Chantal Jahchan for Bloomberg
In May 2024, eight months before the end of her tenure as US Treasury secretary, Janet Yellen delivered what was for her an unusual speech.
“It is essential that we do not give in to the impulses of some and make the devastating error of turning away from our democratic spirit and system,” she told the crowd at an Arizona conference to honor the late Senator John McCain. At stake, she added, weren’t only our rights, our values and “our self-conception” but also “the basis of our success.”