Fed Chair Janet Yellen Schools Ralph Nader

Ralph Nader, consumer activist and Al Gore presidential bid spoiler, wrote a letter to Federal Reserve Chair Janet Yellen. Nader advised Yellen that her policies have hurt the ‘savers” of the economy, the “savers” being those that have their money in savings accounts and money market funds. Using the proverbial we, he went on to suggest that she might want to check with her husband, a noted economist, who according to Nader is more consumer-friendly. Yellen penned a response to Nader in which she quickly schools him on the reality of savings people’s home and jobs versus the pennies they might get from a higher savings rate. Slap.

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