Former President Joe Biden’s U.S. Treasury Secretary Janet Yellen blasted President Donald Trump’s tariffs on Monday, saying the return of American manufacturing is just a “pipe dream” that may not even be a “desirable goal.”
Yellen, who chaired the Federal Reserve from 2014 to 2018 prior to heading the Treasury from 2021 to 2025, took to CNBC’s Squawk Box to spew her anti-American rhetoric:
“Things have been just chaotic,” the former secretary said. “The reciprocal tariffs put on and paused … This is really creating an environment in which households and businesses feel paralyzed by the uncertainty about what’s going to happen — it makes planning almost impossible.”
At one point in the interview, she revealed that she does not believe in “American manufacturing”:
“Perhaps it’s to bring back American manufacturing, but I really think that’s a pipe dream, and not something that is likely to be accomplished,” she said, referring to Trump’s efforts to bring jobs back to the United States.
“And we could even raise questions about whether or not, in a broad-based way, that’s a desirable goal,” she added.