Janet Yellen's Mixed Messages on US Banking System

Treasury Secretary Janet Yellen's call for more regulation to fix the cracks in the US banking system is hypocritical, given her role in creating the current economic mess as the former head of the Federal Reserve. Yellen's policies of keeping interest rates ultralow and pushing quantitative easing pumped up multiple bubbles and served as kindling for the inflation conflagration. Moreover, Yellen and the Biden economic team's decision to bail out Silicon Valley Bank's depositors will only encourage more unwise risk-taking by banks and their wealthy clients.