Rand Paul & Janet Yellen
David R. Kotok
Cumberland Advisors, October 25, 2013
There are reports that Senator Rand Paul intends to put a “hold” on Janet Yellen’s nomination for Federal Reserve Chair.
Senator Paul is involved in an absolute act of lunacy. He wants to put Janet Yellen’s nomination on hold in order to force a vote on his Fed Transparency bill.
Fine, Senator Paul, force the vote, but doing it this way will inject disarray into financial markets – and because of a political squabble. You are going to hurt every 401K, every investor, mortgage applicant, builder, and business entity in the United States.
Senator Paul’s website is http://www.paul.senate.gov . His Washington, D.C., and Kentucky telephone numbers are as follows:
Bowling Green: (270) 782-8303
Crescent Springs: (859) 426-0165
Hopkinsville: (270) 885-1212
Lexington: (859) 219-2239
Louisville: (502) 582-5341
Owensboro: (270) 689-9085
Washington, D.C.: (202) 224-4343
If there is ever a time for the American people to say, “We have had enough of this political nonsense,” it is now.
There is nothing wrong with Janet Yellen’s nomination. She is the Vice Chair of the Fed. She has been the president of the Federal Reserve Bank of San Francisco. She has had a distinguished public service career and is a skilled economist. Janet Yellen is an expert in monetary affairs and banking supervision. Furthermore, she was involved in the architecture of the policies that helped save the US and others worldwide in the post Lehman-AIG meltdown.
It is time for citizens to take their country back. One of the ways to do so is to use the telephone now. I already did. If you happen to be from Senator Rand Paul’s state, call his local office and let them know how you feel. He will not answer, but his staff will.
David R. Kotok, Chairman and Chief Investment Officer