Fed Testimony – Congress Has Lost It!

Watching Janet Yellen’s first testimony to Congress as Chairman(woman) of the Federal Reserve.

It is one of the more ridiculous things I have seen in the political sphere. We all know that politics is a lot about posturing and show – then behind the scenes all sorts of deals take place that we aren’t told about. We also know that congressional hearings have little to do with finding truth and more to do with making a public show.

But this show takes the cake. It’s not just posturing. Congress really has lost its concept of its function. They don’t seem to know where their job ends and the Fed’s job begins. They are asking her for answers on the budget and social security reform. Sigh…..uh….Congress….that is your job.

I suppose when a legislative body becomes completely ineffective, as our Congress has, it is natural that they look elsewhere for answers. Yellen is doing as good of a job as she can trying to answer questions without calling the Congressmen flat out idiots. I haven’t seen her roll her eyes yet, although I am sure she is desperately having to fight the urge to do so.