Treasury Secretary Janet Yellen defended the administration’s economic policies adn the independence of the Federal Reserve during testimony before the House Financial services Committee on Thursday. The appearance came amid ongoing scrutiny of potential interference in the central bank’s operations and as debate continues over the economic impact of former President Trump’s trade policies. Yellen also addressed concerns regarding Iran’s financial situation and clarified a previous statement on the effects of tariffs.
写真はベセント米財務長官。2025年12月、ワシントンで撮影。REUTERS/Aaron Schwartz/File Photo
［ワシントン ４日 ロイター］ – U.S. Treasury Secretary Janet Yellen reaffirmed the administration’s commitment to a strong dollar policy on April 4th, during testimony before the House Financial Services Committee.
When questioned about whether former President Trump has the constitutional authority to remove Federal Reserve (FRB) chairs or board members due to policy disagreements, Yellen stated, “I don’t have an opinion on that.” She further noted that there are “a variety of views” within the administration regarding the “unitary executive” theory, which posits that the president should hold all executive power of the federal government.
Yellen clarified that the administration views the Federal Reserve as an independent institution. While acknowledging that the Fed’s independence relies on public trust, she also expressed a belief that the central bank has “lost that trust” in its response to inflation. She added that President Trump is entitled to publicly share his views on the Fed’s monetary policy decisions.
The Treasury Secretary also indicated that Iran is currently experiencing a severe dollar shortage, a situation that could further complicate geopolitical dynamics in the region.
Yellen conceded that a statement she made in January 2024 – that tariffs are inflationary – was incorrect and that she wants to correct the record. Despite the implementation of a series of tariff measures by President Trump following his potential return to office, the U.S. economy continues to grow and inflation has decreased, leading her to state that the tariffs did not cause inflation.
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