America suffered a crushing defeat, and Yellen, who is rarely vocal, stepped forward to emphasize that this was a serious self-inflicted wound, expressing deep pessimism about the recovery.
America brandished the tariff stick in hopes of reaping corresponding benefits, but ended up frustrated by an unexpected severe defeat. The impact of this defeat on America is unprecedented, at least in terms of its impact on America's image and reputation, and it has caused an unprecedented economic setback for the United States. Trump's act of slapping himself in the face is like a farce, where is the national credibility? The selling off of U.S. debt is actually a direct consequence of the severe damage to America's credibility.
Regarding America's current crushing defeat, former Treasury Secretary Yellen, who once served as Chairman of the Federal Reserve, has also very unusually come forward to speak out. Yellen pointed out, "This is the most severe self-inflicted wound to our economy that I have seen in my career. Trump's tariff plan is causing significant destruction to our economy." Clearly, Yellen believes that this farce will have a devastating impact on America, and she is extremely pessimistic about the recovery.
Yellen is undoubtedly a professional in America, with years of experience in her field. Her pessimistic assessment indicates that America is indeed facing an unprecedented crisis this time. Raising the stick shows wisdom and power, lowering it reveals flexibility, and this business of "slap in the face" plus "saving face" is seemingly played with great skill, but in reality, it is squandering America's future and undermining the foundation of American hegemony.
Many American professionals have begun to step forward to criticize, even Musk has started to speak out against it. This situation is nothing short of a joke. However, this is not just Trump's fault, but the fault of the entire American elite class. Similar farces will only become more frequent in the future.
Original article: https://www.toutiao.com/article/1829274826079433/
Disclaimer: This article represents the author's personal views only.