The Republican National Committee is blasting Janet Yellen, President-elect Joe Biden’s pick to run the Treasury Department, for being “notoriously soft on China.”
The RNC’s comments came in a Tuesday tweet as a confirmation hearing was underway for Yellen.
The RNC wrote: “ The FACTS on Biden's Treasury Secretary nominee, Janet Yellen:
“—Notoriously soft on China.
“—Her ideal fiscal policy: ’raise taxes & cut retirement spending.’
“— After she left the public sector, she cashed in on $7.2M in speaking fees over the past 2 years from Wall Street firms.”
According to CNN, Yellen was paid the money in recent years by giving speeches to Wall Street banks, major corporations, and industry groups.
The former chair of the Federal Reserve brought in nearly $1 million alone in multiple speeches to Citigroup, according to financial disclosure statements filed in late December.
Since leaving the Fed in early 2018, Yellen has also given paid speeches to other companies, including Google, Goldman Sachs, and Bank of America.
Although the RNC did not specify, it appears the comment about raising taxes was made two years ago by Yellen.
She had told CNBC the U.S. was taking on too much debt and the problem would only worsen.
“If I had a magic wand, I would raise taxes and cut retirement spending,” Yellen had said.
The RNC’s tweet offered no specifics about Yellen and China.
Jeffrey Rodack ✉
Jeffrey Rodack, who has nearly a half century in news as a senior editor and city editor for national and local publications, has covered politics for Newsmax for nearly seven years.
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