PoliticsDonald Trumpfederal reserveJanet Yellen

Janet Yellen Has The Perfect Response To Donald Trump's Criticism

The Fed chair took down the GOP nominee without once saying his name.
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Senior Politics Reporter, HuffPost

WASHINGTON ― Federal Reserve chairwoman Janet Yellen resolutely dismissed Donald Trump’s attacks on her integrity at a Wednesday press conference.

The GOP nominee accused Yellen of keeping interest rates low in order to prop up the economy and thereby bolster President Barack Obama’s legacy. Trump went so far as to say that Yellen, an Obama appointee, “should be ashamed of herself.”

Yellen vehemently defended the central bank’s independence while speaking to reporters after the announcement that the Fed would not raise its key interest rate.

“Congress very wisely established the Federal Reserve as an independent agency in order to insulate monetary policy from short-term political pressures,” Yellen said. “I can say emphatically that partisan politics plays no role in our decisions about the appropriate stance of monetary policy.”

“We do not discuss politics at our meetings,” she added. “And we do not take politics into account in our decisions.”

Yellen reiterated her firm remarks in response to another question about Trump’s comments later in the press conference.

It was an especially adept rebuttal, because Yellen managed to shut down Trump without once mentioning him by name. Had she done so, the central bank chief might have fallen into the very trap Trump set for her and prompted new allegations of partisanship.

In keeping with this careful behavior, Yellen also declined to answer a question about the economic impact of restoring tariffs on imports. It was a clear attempt to avoid wading into presidential politics. Trump has proposed restricting trade through tariffs to protect American manufacturing and retaliate against unfair trade practices.

But Yellen’s emphasis on the apolitical character of the Fed seemed equally aimed at quieting many analysts’ suggestions that the Fed would not raise interest rates before the November election lest it be seen as meddling in politics.

She insisted that Fed officials could indeed decide to raise the benchmark interest rate at their November meeting, which takes place just a week before the election.

Editor’s note: Donald Trump regularlyincitespolitical violence and is a

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Before You Go

The Federal Reserve's Decision Makers
Janet Yellen(01 of10)
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Federal Reserve Chairwoman Janet L. Yellen leads the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently though, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Bloomberg/Getty Images)
Stanley Fischer(02 of10)
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Stanley Fischer, vice chairman of the Federal Reserve, is a member of the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Bloomberg/Getty Images)
William Dudley(03 of10)
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William C. Dudley, president and chief executive officer of the Federal Reserve Bank of New York, is vice chairman of the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Bloomberg/Getty Images)
Lael Brainard(04 of10)
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Lael Brainard, a governor of the Federal Reserve, is a member on the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Bloomberg/Getty Images)
Jerome Powell(05 of10)
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Jerome H. Powell, a governor of the Federal Reserve, is a member on the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Bloomberg/Getty Images)
Daniel Tarullo(06 of10)
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Daniel K. Tarullo, a governor of the Federal Reserve, is a member on the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Alex Wong/Getty Images)
James Bullard(07 of10)
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James Bullard, president and chief executive officer of the Federal Reserve Bank of St. Louis, is a member on the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:CNBC/Getty Images)
Esther George(08 of10)
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Esther George, president and chief executive officer of the Federal Reserve Bank of Kansas City, is a member on the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Bloomberg/Getty Images)
Loretta Mester(09 of10)
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Loretta Mester, president and chief executive officer of the Federal Reserve Bank of Cleveland, is a member on the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Bloomberg via Getty Images)
Eric Rosengren(10 of10)
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Eric Rosengren, president and chief executive officer of the Federal Reserve Bank of Boston, is a member on the Federal Open Market Committee, the central bank body responsible for adjusting key interest rates. The FOMC normally consists of 12 members: the seven presidentially-appointed members of the Board of Governors of the Federal Reserve System; the president of the Federal Reserve Bank of New York; and a rotating group of four of the remaining 11 regional Federal Reserve banks. Currently, because two of the seats at the Board of Governors remain empty, the FOMC has just 10 members. (credit:Boston Globe via Getty Images)
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