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Former Federal Reserve Chair Janet Yellen on the economy : The Indicator from Planet Money Former Fed Chair Janet Yellen talks about her New York Times op-ed with Jared Bernstein, proposing a two-punch solution for boosting the economy.

The Indicator from Planet Money

A Conversation With Janet Yellen

A Conversation With Janet Yellen

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WASHINGTON, DC - JULY 13: Federal Reserve Board Chairwoman Janet Yellen testifies before the Senate Banking, Housing and Urban Affairs Committee in the Dirksen Senate Office Building on Capitol Hill July 13, 2017 in Washington, DC. (Photo by Chip Somodevilla/Getty Images)
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Chip Somodevilla/Getty Images
WASHINGTON, DC - JULY 13: Federal Reserve Board Chairwoman Janet Yellen testifies before the Senate Banking, Housing and Urban Affairs Committee in the Dirksen Senate Office Building on Capitol Hill July 13, 2017 in Washington, DC. (Photo by Chip Somodevilla/Getty Images)
Chip Somodevilla/Getty Images

Former Federal Reserve Chair Janet Yellen and Jared Bernstein of the Center on Budget and Policy Priorities wrote an op-ed for the New York Times accusing Congress of neglecting its responsibilities. The op-ed, entitled The Senate Is on Vacation While Americans Starve, notes that thirty million American households didn't have enough food in the last week, and says only the Fed has acted forcefully.

Yellen and Bernstein argue that it's not enough for the Fed to act alone: monetary policy by itself cannot solve the current economic crisis, and any solution requires a fiscal component. We talked with Janet Yellen about her view on the economy and her proposed solution.

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