Women’s Group Slams Trump’s Decision Not to Re-Appoint Janet Yellen as Federal Reserve Chair
FOR IMMEDIATE RELEASE: Thursday, November 2, 2017
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Women’s Group Slams Trump’s Decision Not to Re-Appoint Janet Yellen as Federal Reserve Chair
UltraViolet: “Trump’s Decision is Unusual and Sexist”
Moments ago, the Associated Press reported that President Trump would break with decades of bipartisan precedent, in choosing not to re-appoint Janet Yellen as the chairperson of the Federal Reserve. Janet Yellen was the first woman to ever hold the position as Federal Reserve Chair. Experts, including conservative economists, recognize Yellen as one of the most successful Federal Reserve chairs in history, having accomplished the Federal Reserve’s dual mandate better than any other chair in history. Yellen would be the first Federal Reserve Chair in modern history (since the Banking Act of 1935) not to be reappointed after serving a full term.
In reaction to Trump’s decision, Shaunna Thomas, co-founder of UltraViolet, a national women’s advocacy organization which was one of the leading groups that called on President Obama to appoint Yellen, issued the following statement:
“After one of the most successful terms in the history of our modern banking system, it is deeply disturbing that President Trump has decided to break with decades of bipartisan tradition in refusing to reappoint Janet Yellen as the chair of the Federal Reserve.“Given Trump’s track record on women, it is hard to read this as anything other than Trump punishing a successful woman for good work in service to our country. This unusual and sexist decision should be deeply disturbing to both liberals and conservatives alike, who recognize the unprecedented nature of Yellen’s success and understand the importance of maintaining stability in our banking system.”“UltraViolet would like to thank Yellen for her glass-ceiling shattering tenure as chair of the Federal Reserve, and her near-universally recognized success in that position.”
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