Democrats / Running / Barack Obama

Ex-Fed Chair Yellen advises Biden on virus economic fallout

Posted On: Aug 13, 2020   |   Posted By: My Sanantonio

WILMINGTON, Del. - Former Federal Reserve Chair Janet Yellen was among a team of advisers who briefed Joe Biden on Thursday about the economic fallout from the coronavirus.
The presumptive Democratic presidential nominee and his newly chosen running mate, California Sen. Kamala Harris, participated in the briefing from separate, socially distanced tables at a hotel in Wilmington, Delaware. In a brief appearance with reporters, Biden didn't offer details on the briefing.
Yellen's participation was notable because Fed officials typically avoid overt partisan politics - even after they leave the central bank - to preserve the institution's independence.
But there are exceptions. Paul Volker, who led the Fed from 1979 until 1987, served on an advisory committee for Barack Obama when he was a 2008 presidential candidate. Alan Greenspan, who succeeded Volker and ran the Fed for more than 18 years, has not played an adviser role to campaigns since leaving in 2006. But as a private citizen, Greenspan was an...

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