RE: LeoThread 2026-04-16 18-53
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Former US Fed chair Janet Yellen warns that lowering rates to cut debt-service costs can let inflation spiral out of control
She compared the United States today to a banana republic
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The comment comes from a former Treasury Secretary who failed to lock in ultra-low long-term rates and instead issued too much short-term debt, leaving the country exposed to higher borrowing costs as rates rose
That policy choice was a massive mistake