President-elect Donald Trump should ask for the resignation of Federal Reserve Chair Janet Yellen even though she still has a year left in her term, Forbes Media CEO Steve Forbes tells Newsmax TV.
"She should be pink-slipped, but even if you let her stay on, make it clear she's a lame duck," Forbes told "Newsmax Prime" host J.D. Hayworth on Wednesday.
"Trump has two appointments and another one coming along on the Federal Reserve Board. Two governors. Two out of the big seven. You put the right people in there, that's going to be critical in setting a new stage," said Forbes, author of "Reviving America."
Forbes went on to criticize how the Fed has operated under Barack Obama, becoming essentially an enemy to the business community.
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The central bank combined easy money policies and suffocating regulation, "buying up all the government bonds and the net result is big companies have found it easy to borrow but small and new businesses very hard to get credit or reliable lines of credit," Forbes said.
The same is true with the average American seeking to buy a home.
"You get a mortgage these days, you can get it but by golly but you've got to go through months and months of hoops before you get the thing," Forbes explained.
"So if you start to ease that up, you'll start to see this economy revived," he said.
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