Janet Yellen: Trump’s Tax Cuts and Jobs Act Is ‘Responsible for Many of the Problems that We Face Now’

SCHONBERGER: “To your point, Secretary Yellen, what impact would Donald Trump have on our economy if he’s elected?”

Yellen: “Well, look, I’m governed by the Hatch Act and I can’t get into electoral politics. I guess I could just make a couple of policy-oriented comments, which is that the signature policy from the Trump years was the Tax Cuts and Jobs Act, and it promised an investment boom which really did not materialize. It gave huge tax breaks to corporations and to wealthy individuals and it resulted in an enormous increase in the deficit and lower tax revenues below historic norms. And I think it’s responsible for many of the problems that we face now with our fiscal trajectory. And so, that would concern me to leave all of that in place.”