Republicans say the Federal Reserve has been secretive, ineffective and out of touch with the economic realities of ordinary Americans. This is what Janet Yellen, Chairman of the Fed, had to say recently: "Financial conditions in the United States have recently become less supportive of growth."
Ya think? Haven't I been saying this? She told the House Financial Services Committee, "These developments, if they prove persistent, could weigh on the outlook for economic activity."
Allow me to translate: The chances of us going into a recession in 2016 are very high. I've been saying that. But the Fed has been trying to cover for the administration's failed policies.
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