Janet Yellen: Fed Trying to Keep Financing Cost Low for Debt ‘Is a Sure Road to High Inflation’

EXCERPT:

YELLEN: "What is very important is that the president choose a person who strongly believes and will defend the Fed’s independence and keep it divorced from short-term political pressure. And it concerns me when I hear President Trump say a qualification for the job is that the person must have the views that interest rates need to be cut radically. I believe the person needs to carefully look at the data, consider economic trends, work with the other members of the Federal Open Market Committee, and make fact-based judgments that reflect a commitment to achieve the congressionally mandated goals. And keeping financing costs low for the federal debt is not one of the goals, and it would be very dangerous to pursue that. As I said, that is a sure road to high inflation."