Journalists at Politico are under fire after the political news site kicked off the new year with an attack on former Federal Reserve chair Janet Yellen, who is President-elect Joe Biden’s pick to be Secretary of the Treasury.
“In the past two years,” Politico tweeted, Yellen “has raked in more than $7.2 million in speaking fees.”
“Yellen and other Biden Cabinet nominees reveal earning large amounts in financial disclosures that could complicate their relationships with progressives,” is the sub-head in the article by Politico’s Alex Thompson and Theodoric Meyer.
Yellen spent nearly a quarter-century in public service, retiring as the first woman to ever be the Chair of the Federal Reserve. Previously she had served as a member of the Federal Reserve Board of Governors, and was Chair of President Bill Clinton’s Council of Economic Advisers, among other positions.
Social media users were furious. Some slammed the news site for using the term “raked in,” as if they were suggesting she had acted unethically or even illegally, neither of which is true. Others blasted Politico for the article itself, given that Yellen was a private citizen at the time and had every right to give speeches and be well compensated for them. She also had little expectation she would return to public service, after President Donald Trump refused to re-appoint her as Federal Reserve chair because she was too short.
And others accused Politico of trying to drum up anger among various wings of Democratic party voters.
Image by Federal Reserve via Flickr