Fed Politics in Spotlight as Yellen Cornered by Lawmaker
- Republican asks if Fed’s Brainard has conflict of interest
- Brainard not been in conversations with either campaign: Fed
Yellen: I've Never Seen Politics Enter Fed Policy Debate
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Federal Reserve Chair Janet Yellen’s defense of the central bank as non-partisan came under attack on Wednesday, as a Republican congressman cornered her on whether a key policy maker would have a conflict of interest in discussing a post in the next U.S. president’s administration.
Fed Governor Lael Brainard has donated to Clinton’s campaign and is widely viewed as a potential Clinton pick for Treasury secretary. Yellen hesitated and then demurred when Representative Scott Garrett of New Jersey asked whether Brainard would have a conflict of interest if she were indeed in talks with Democratic nominee Hillary Clinton’s campaign about a position. The election takes place Nov. 8.