Yellen

In her appearance before the House Financial Services Committee, Treasury Secretary Janet Yellen did little more than tell legislators how effective President Biden has been in his dealings with her and that the president's cabinet has not met to discuss invoking article 25 of the US Constitution. For those not in the know, the Secretary of the Treasury is a member of the cabinet and Article 25 of the US Constitution would be used to replace a US president who has become unable to fulfill that leadership role. This can only be invoked by the cabinet. Congress does not have that power or the authority. Yellen did not really provide any newsworthy testimony as far as our purposes are concerned other than to acknowledge that labor markets have cooled and to imply that the burst of consumer inflation that emerged in 2022 had nothing to do with reckless fiscal policy but was more driven by global supply-side shortages. Yeah, and I have a bridge to sell you.