Thursday, October 06, 2016

'Grin and bear it': Alan Greenspan's advice to Yellen on Fed political bias accusations

Federal Reserve Chair Janet Yellen has no choice but to endure allegations that her reluctance to raise interest rates has been politically motivated, former Fed chief Alan Greenspan told CNBC on Thursday.

Greenspan said on "Squawk Alley" that she just has to "grin and bear it," referring to Donald Trump's claim that Yellen is the most political person in Washington. "That's the only way you can do it."

The GOP presidential nominee has said the central bank has kept rates steady since December's first hike in more than nine years to protect the economic legacy of President Barack Obama and help Democratic nominee Hillary Clinton to slide into the White House ....