Janet Yellen testified today
before the Joint Economic Committee of Congress. Sen. Bernie Sanders of the Vermont
Progressive Party asked her if the US were an “oligarchy or a capitalist
democracy.” Yellen said she doesn't know how to describe our system but
she, like Bernie, is troubled by the fact that everybody doesn't have the same amount of money. (CNBC)
If she doesn't know what our
economic system is, wouldn’t she find it difficult to lead monetary policy?
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