Why Didn’t Donald Trump Renominate Janet Yellen as Fed Chair?

Yin Bogu/Xinhua via ZUMA

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Dan Drezner is trying to figure out why President Trump didn’t do the easy thing and renominate Janet Yellen for a second term as Fed chairman:

As Trump decisions go, choosing Powell is far from his worst one. But it’s frustrating when there exists an obvious, superior choice on the menu and the president of the United States abstains from that option. In Trump’s eye, Yellen does not look like a central banker from central casting. Readers can proffer their own theories for why Trump perceived Yellen in this way. The important thing is that this decision reflects poorly on Trump, not Yellen.

I don’t get it. This one is easy: Trump was never going to renominate Yellen. It’s not because she’s a woman. It’s not because she’s a liberal. It’s not because she has a PhD. It’s not because she sports an elfin hairstyle. And it’s not because Trump wanted someone who looked better in group photos.

It’s because she was originally appointed by Barack Obama, and Trump seems to be driven almost entirely by two intertwined appetites: Maintaining his appeal to whites and overturning everything Obama ever had a hand in. Janet Yellen is one of those things. That’s it. End of story.

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SIX TRUTHS

Reclaiming power from those who abuse it often starts with telling the truth. And in "This Is How Authoritarians Get Defeated," MoJo's Monika Bauerlein unpacks six truths to remember during the homestretch of an election where democracy, truth, and decency are on the line.

Truth #1: The chaos is the point.

Truth #2: Team Reality is bigger than it seems.

Truth #3: Facebook owns this.

Truth #4: When we go to work, we're in the fight.

Truth #5: It's about minority rule.

Truth #6: The only thing that can save us is…us.

Please take a moment to see how all these truths add up, because what happens in the weeks and months ahead will reverberate for at least a generation and we better be prepared.

And if you think journalism like Mother Jones'—that calls it like it is, that will never acquiesce to power, that looks where others don't—can help guide us through this historic, high-stakes moment, and you're able to right now, please help us reach our $350,000 goal by October 31 with a donation today. It's all hands on deck for democracy.

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