Janet Yellen, the woman in the picture, is the Governor of the Federal Reserve which is the Central Bank of the United States and at a press conference yesterday launched a stark reminder to the newly elected President Donald Trump: don’t touch the Wall Street reform law ordered by Barack Obama, the Dodd-Frank Act, because I would never want to see banks decided reforms after the crisis go back.
The Yellen said that even the FED, as all central banks of the advanced countries, should remain independent and impartial and should never be linked to one or other political party; a serious financial institution should never be tempted by supporting a particular political party because the economy needs to know look over the choices of the Government at that time.
Campaigning Trump had repeatedly voiced his intention to put his hand to the reformation of high finance desired by Obama but hardly Yellen will leave the New York Tycoon turns on the Dodd-Frank. According to the Governor of the FED this law is a good way to fend off speculators more greedy and keep the economy healthy and why it doesn’t make sense to change it. The Yellen has always supported the need for close to speculation and stock market operations more unscrupulous and has never made any secret of his appreciation for the Dodd-Frank Act.
Meanwhile, the new President is working on his Government team and now the names of those who are intended to fill the posts of greater responsibility is not yet certain; the only really safe is Trump’s political advisor, Steve Bannon, much criticized for his racist and anti-Semitic sympathies.
The US intelligence chief has resigned as per standard practice when a new tenant takes office in the White House and from now on it’s up to Trump decide who will be the new heads of the secret service, no easy task given the delicacy of the tasks and duties to be assigned.
valeryworldblog 