Yellen: Trump 'had taken a wrecking ball' to economy with trade war

Former Treasury Secretary Janet Yellen, who served under former President Biden, said President Trump “has taken a wrecking ball” to the economy.

“President Trump inherited an economy where growth was very strong, the labor market was functioning very well, with low unemployment, an outstanding record of job creation,” Yellen said on CNN International’s “One World,” in a clip posted to the social platform X Thursday.

“So, we had a very well-functioning economy and President Trump has taken a wrecking ball to it,” Yellen added later.

Much of Yellen's criticism centered on Trump's tariffs, which caused stock markets to slide last week.

Markets continued to lose steam until Wednesday, when Trump ratcheted up tariffs on China but implemented a 90-day pause on “reciprocal” tariffs against all other trading partners except China.

That caused markets to rise dramatically, though the Dow Jones is significantly down again on Thursday.

“I have to ask you, how would you grade how the Trump administration has handled the economy thus far?” CNN International’s Bianna Golodryga asked Yellen.

“I'm afraid I could not give it a passing grade,” Yellen responded.

Trump on Thursday threatened to stop the 90-day pause in the case that countries don’t come to a deal with his administration before then.

“If we can’t make the deal that we want to make or we have to make or that’s, you know, good for both parties — it’s gotta be good for both parties — then we go back to where we were,” Trump said during a Cabinet meeting.

The Hill has reached out to the White House for comment.