Former Federal Reserve Chair Janet Yellen says she doubts that President Donald Trump has a good grasp of economic policy or even knows the Federal Reserve’s mandates.
“I doubt that he would even be able to say that the Fed’s goals are maximum employment and price stability,” Yellen said in an interview with radio program “Marketplace.”
She said Trump has made various inaccurate remarks about the Fed such as that the central bank has an objective for the exchange rate for the dollar that is aimed at supporting the president’s trade policies.
She said comments like that show a “lack of understanding of the impact of the Fed on the economy and appropriate policy goals.”
Asked in the interview released Monday if she felt Trump had a grasp of macroeconomic policy, Yellen said, “No I do not.”
The comments marked Yellen’s most pointed criticism of Trump since he decided not to nominate her for a second term as Fed leader. She left the Fed a year ago and was succeeded as chairman by Powell.
SEC seeks charges against Tesla CEO
Stock market regulators are asking a federal court to hold Tesla CEO Elon Musk in contempt for violating an agreement requiring him to have his tweets about key company information reviewed for potentially misleading claims.
The request made Monday in New York resurrects a dispute between the Securities and Exchange Commission and Musk that was supposed to have been resolved with a settlement reached five months ago.
The SEC had sued Musk for using his Twitter account to announce he had secured financing for a potential buyout of Tesla, something regulators alleged wasn’t true.
Musk agreed to having future tweets that could affect Tesla’s stock be pre-approved. But the SEC contends Musk didn’t do that in a Feb. 19 tweet projecting the number of cars Tesla will make this year.
CBL declares 7.5 cent per share dividend
CBL Properties is keeping its quarterly cash dividend for the company’s common stock at 7.5 cents per share for the quarter ending March 31.
The board of directors decided Monday to pay the dividend on April 16 to shareholders of record as of April 1.
Late last year, CBL cut its dividend 62.5 percent to 7.5 cents per share.
CBL’s portfolio has 115 properties totaling 71.5 million square feet across 26 states, including 72 high-quality enclosed, outlet and open-air retail centers and 11 properties managed for third parties. It owns and operates Hamilton Place mall and Northgate Mall in Chattanooga.
Gas prices rise 7.7 cents a gallon
Average gasoline prices in Chattanooga rose another 7.7 cents per gallon in the past week, boosting the average price of regular gas to $2.15 per gallon, according to GasBuddy’s daily survey of 170 stations in Chattanooga.
Although prices at the pump have risen 15.9 cents a gallon in the past month in Chattanooga, local gas prices still remained 24 cents a gallon below the U.S. average price for regular gas now at $2.39 a gallon. Chattanooga prices are also still 6.1 cents a gallon below what they were a year ago at this time of year.
Patrick DeHaan, head of petroleum analysis for GasBuddy, said gas prices nationwide had their biggest weekly jump so far in 2019 last week and Chattanooga fuel prices are at the highest level in more than three months, following the increase in oil prices so far in 2019.
“Unfortunately, we’re likely in store for a continued March higher into March and even April as seasonal trends kick into high gear, but there is some light at the end of the tunnel,” DeHaan said. “Average gas prices should remain lower than their year ago levels for now and the annual spring surge we see at gas pumps will likely not be as bad as we’ve seen in years past.”