U.S. Treasury Secretary Janet Janet Yellen said on FridayVegas777A fragmented democracy can have a devastating impact on the economy. Yellen's argument is an indirect blow to Donald Trump.
In her speech, Yellen used economic data to paint a picture of how disregard for American democratic processes and institutions led to decades of economic stagnation.
This is Yellen's rare involvement in the political arena. In her previous speech,Vegas777Trump, a potential Republican presidential candidate, was never mentioned, but she hinted that the former president's return to the White House would have a potential impact on economic growth.
Ms Yellen's comments are a warning to business leaders who may ignore Mr Trump's disregard for modern democratic norms because they prefer the former president's vision of growth through tax cuts and deregulation.
Yellen's office released a copy of her speech in advance. In it, Ms Yellen acknowledged that democracy "does not seem like a typical area for finance ministers", but added that "democracy is essential to building and maintaining a strong economy."