Yellen is the U.S. Treasury secretary, and her job is to manage the U.S. treasury and debt. She has always been a principled person who defends American interests, but she also sometimes says what she really thinks.
Recently, at an international conference, she publicly criticized some of the practices of the United States, which shocked people. Is she really angry, or is she trying to quit?
What did she say?
She said that some of the current US policies are stupid, have not been carefully considered, and are not suited to the times. She pointed out the following problems:
US sanctions against Russia, including freezing assets and cutting off the banking system, are inconceivable and have serious consequences;
The U.S. attempt to sever ties with China has been disastrous. Because the two countries can cooperate in many ways to achieve win-win cooperation, not the United States is giving out to China;
She is infuriated by the fact that politicians in the United States often make hasty decisions without understanding the situation;
These stupid and crude actions of the United States have damaged the financial credibility of the United States and made other countries unwilling to cooperate with the United States.
These words are very straightforward, very sharp, and very unkind. Is she having enough to bear?
Actually, we can understand Yellen's feelings. As Secretary of the Treasury, she has to face the deteriorating financial situation of the United States, and her task is difficult and helpless.
The most important thing is that no one wants to buy the Treasury bonds issued by the United States. Just a few days ago, the US national debt has reached $33 trillion, an increase of $2 trillion from May, and this is already Yellen's best efforts.
According to the plan of the US Treasury, at least 1$2 trillion in national debt. Moreover, the Treasury due next year has already reached a record 76 trillion dollars, plus interest about 1$3 trillion, which is a problem that no one finance minister can solve.
Politicians in the United States, on the other hand, are exacerbating the problem.
The U.S. national debt crisis could have been helped by the whole world, but now, even U.S. allies Japan and the United Kingdom are selling U.S. Treasury bonds, not to mention China and other countries. As Yellen said, no one wants to deal with a discredited country.
In the same way, no one wants to support a country that is always hostile to them, and that is self-defeating.
Politicians in the United States, on the other hand, are still immersed in the dreams of the past, thinking that the United States will always be the boss of the world, that the United States will always have money to spend, and that the United States will never fail, so they can do whatever they want, regardless of the consequences.
Therefore, Yellen, the Secretary of the Treasury, has no way to continue to work, she can only say what is in her heart, which can be regarded as an explanation to herself, not that she Yellen can't do it, but that they are too stupid.
So, will Yellen resign?
In fact, this is not the first time that there have been rumors about Yellen's resignation, there were several times last year, but she persevered.
But this time it was different, the problem she faced was too big, too difficult, too unsolvable.
So, we reckon, Yellen's resignation, this time it's real.