This is a repeat of her history.  Remember Yellen said that there was no housing bubble and that the US economy was safe...that was in 2007 when the housing market had already been in decline for 7 months.

After the bubble burst she said ..."for my own part I did not see and did not appreciate that the risks were with securitization.... I didn't see any of that coming until it happened".

Really are these central bankers that blind?...Maybe but I expect she knows why and isn't allowed to tell the country....at least until it happens again.

Not offended, more annoyed by the noise, by the "if only everyone would listen to me I'd have this all fixed in no time" mentality. If you had some well-respected books on the subject, or other real-world reputation as a major thinker in this area, etc. that'd certainly separate you from the herd. As it is, there are lay opinions all the way across the spectrum, and I don't see why anyone should give more weight to yours anymore than the next guy's.

Decision makers (politicians - yes, I know, ugh) really have no choice but to put people with backgrounds and reputations like Yellen's into positions such as Fed Chair. Otherwise, one guy is as good as the next - how would you decide? Yes, there is plenty to argue over regarding Fed actions! But to make remarks to the effect that "this person is a total idiot"only tells us where you stand; it doesn't forward the debate or change minds. That's all I'm saying, and that's why you don't see me post my opinion.