"Trump Tariffs, the Greatest Self-Inflicted Wound in History"... Yellen Criticizes

Janet Yellen, former Treasury Secretary who served in the Barack Obama and Joe Biden administrations, criticized Trump's tariff policy as "the worst self-inflicted wound I've seen."

In an interview with CNN on the 10th (local time), she pointed out, "It's fortunate that Trump stopped reciprocal tariffs, but it has already dealt a massive protectionist shock to the U.S. and global economy."

She said, "Even if reciprocal tariffs are abolished, the U.S. currently has the highest average tariff rate since 1934, which will fuel inflation."

When asked, 'What grade would you give the Trump administration?' she replied, "Unfortunately, I can't give a passing grade."

This is her first media interview since leaving office. She served as the Chair of the Federal Reserve under former President Obama and as Treasury Secretary under former President Biden. After leaving office, she is now an honorary professor at the University of California, Berkeley.

Jungdong No, Hankyung.com Reporter dong2@hankyung.com