Yellen to warn that eroding US democracy, Fed, threatens economic growth
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U.S. Treasury Secretary Janet Yellen will argue that strong democratic institutions, including an independent Federal Reserve, are crucial for sustained and shared economic growth. In a speech at the McCain Institute's Sedona Forum, Yellen will highlight the threat to democracy posed by the January 6 Capitol riot and emphasize the importance of maintaining Fed independence. The speech is significant as it deviates from promoting President Joe Biden's economic policies and aligns with the campaign's argument against Republican rival Donald Trump. Trump allies are reportedly drafting proposals to erode the Federal Reserve's independence. Yellen's speech aims to emphasize that central bank independence is associated with price stability and long-term growth.

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https://www.kitco.com/news/off-the-wire/2024-05-01/yellen-warn-eroding-us-democracy-fed-threatens-economic-growth