Janet Yellen, then Federal Reserve Board chair, appears before a Senate Banking, Housing and Urban Affairs Committee hearing on February 11, 2016. Yellen could be the first woman to hold the position of US Treasury Secretary. Photo: EPA-EFE Janet Yellen, then Federal Reserve Board chair, appears before a Senate Banking, Housing and Urban Affairs Committee hearing on February 11, 2016. Yellen could be the first woman to hold the position of US Treasury Secretary. Photo: EPA-EFE
Janet Yellen, then Federal Reserve Board chair, appears before a Senate Banking, Housing and Urban Affairs Committee hearing on February 11, 2016. Yellen could be the first woman to hold the position of US Treasury Secretary. Photo: EPA-EFE
Richard Harris
Opinion

Opinion

The View by Richard Harris

Janet Yellen’s old ideas are bad fit for Joe Biden’s cabinet and the US economy

  • Yellen continued the mistaken policies of her predecessor, Ben Bernanke, driving interest rates lower to stimulate the economy and being too slow to raise them
  • Her interventionist economics are wrong for the times, which call for a banker or someone with more private-sector experience to stabilise the economy

Richard Harris
Richard Harris

Updated: 8:22am, 27 Nov, 2020

Why you can trust SCMP
Janet Yellen, then Federal Reserve Board chair, appears before a Senate Banking, Housing and Urban Affairs Committee hearing on February 11, 2016. Yellen could be the first woman to hold the position of US Treasury Secretary. Photo: EPA-EFE Janet Yellen, then Federal Reserve Board chair, appears before a Senate Banking, Housing and Urban Affairs Committee hearing on February 11, 2016. Yellen could be the first woman to hold the position of US Treasury Secretary. Photo: EPA-EFE
Janet Yellen, then Federal Reserve Board chair, appears before a Senate Banking, Housing and Urban Affairs Committee hearing on February 11, 2016. Yellen could be the first woman to hold the position of US Treasury Secretary. Photo: EPA-EFE
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Richard Harris

Richard Harris

Richard has pioneered Asian investment management at senior levels for companies such as JP Morgan, Citi, BNY Mellon and several start-ups. He has 40 years of experience in a full range of investment and capital markets activities. He is CEO of Port Shelter Investment Management.