Janet Yellen Hits Trump’s Tariffs With A ‘Wrecking Ball’ In Blistering Takedown | EUROtoday

Former Treasury Secretary Janet Yellen on Thursday eviscerated President Donald Trump amid continued turmoil over his fluctuating tariffs insurance policies.

Yellen — a professor emeritus on the University of California, Berkeley — was requested by CNN’s Bianna Golodryga to grade Trump’s dealing with of the economic system.

“I’m afraid I could not give it a passing grade, I’m sorry,” stated Yellen in her first televised interview since her years serving beneath President Joe Biden.

“This is the worst self-inflicted wound that I have ever seen an administration impose on a well-functioning economy.”

Earlier in this system, Golodryga famous that Trump and his officers have been “quite scathing” of their evaluation of the Biden administration’s dealing with of the economic system.

She then turned to clips of Trump and his prime adviser Stephen Miller raging about inheriting an economic system in a “state of calamity and catastrophe.”

Experts broadly described the economic system Trump inherited from Biden as being in a superb place and predicted that it ought to fare nicely barring any coverage blunders.

Yellen famous that The Economist, in a report from October 2024, described the U.S. economic system because the “envy of the world.”

She added that Trump inherited an economic system the place progress was “very strong,” unemployment numbers had been low, there was an “outstanding record of job creation” and inflation — whereas not on the Federal Reserve’s 2% goal — was “meaningfully” coming down.

“So we had a very well-functioning economy, and President Trump has taken a wrecking ball to it,” Yellen harassed.

On Thursday, the inventory market went again to plunging after a day of historic positive factors following Trump’s 90-day pause on imposing excessive tariffs towards most nations besides China.

She advised CNN that Trump’s tariffs on merchandise imported from China, which have reached over 100%, may end in “massive impacts” to each the U.S. and the worldwide economic system.

“No one knows where these policies are headed,” she stated.