'The global economy has weakened. I think partly it's because of conflicts over trade and the uncertainty that's caused for businesses,' Yellen said.
Ex-Federal Reserve Chairwoman Janet Yellen told Colorado economists at a meeting Sunday evening that she agrees with President Donald Trump about cutting interest rates.
Yellen, who was chair of the Fed in the Obama administration from February 2014 through February 2018, said she supports a 25-basis-point cut to the central bank's benchmark interest rate, CNBC first reported. She predicted the global economy is weakening and said the rate cut could help offset issues stemming from U.S. trade wars with China.
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