Treasury Secretary Janet Yellen cut ties with a close friend 50 years ago because she could no longer stand her “rabid” support for Donald Trump, according to a new book.
Carol Schwartz-Greenwald, the first vice president of the Federal Reserve in Boston and an advisor to former Massachusetts Governor Michael Dukakis, was ostracized by her longtime friend after having lunch with then-Fed Chair Yellen after Trump was elected in 2016, according to Owen Ullman, book author “The Economics of Empathy: Janet Yellen’s Remarkable Rise to Power and Her Drive to Spread Prosperity for All.”
Ullman, who interviewed Yellen for the book, wrote the two met at Pembroke College in the late 1960s and kept in touch even though they “veered in very different political directions.”
Yellen Greenwald was considered a ‘dynamite’ for her ‘first-class mind’, her ‘extreme mind’ and her ‘breakthrough'[n] Glass ceilings in the worlds of economics and finance” according to the biography. But Greenwald’s frenzied support for Trump became more than Yellen could bear.
“After a lunch during which Greenwald talked about how wonderful Trump was, Yellen concluded that she could not continue their fifty-year friendship,” Ullmann said.
“Stop talking to each other.”
When the author reached out to Greenwald, he “flatly refused to talk about Yellen and their long friendship,” according to the book.
The Post requested comment from Yellen and Greenwald.
The Post has acquired a copy of Ullman’s book, published by PublicAffairs, a subsidiary of the Hachette Book Group. The book will go on sale on September 27.
According to the book, Yellen had a “personal disdain” for Trump and he was
“Dazed” and “terrified” when he defeated Hillary Clinton in November 2016.
Ironically, Trump considered naming Yellen for a second term as Federal Reserve Chairman shortly after taking office in January 2017. But, according to reports, the new president considered Yellen “too short” for the job and instead named her Jerome Powell.
I first met Yellen Greenwald when the two were originally from New York enrolled as economics students at Pembroke, which at the time was a residential college for women at Brown University.
After graduating from Pembroke, Greenwald became an economist at the Federal Reserve in New York. You will eventually get a Ph.D. in Economics from Columbia University.
As an advisor to the Dukakis, Greenwald has built a reputation as an outspoken campaigner for consumer rights, according to an article in the New York Times.
Greenwald studied economics at Harvard Business School. In 1980, she was chosen to be the first female president of the National Consumer Co-operative Bank, an agency created by Congress to serve depressed areas where loans were less accessible.
Schwartz, who became Carol Schwartz Greenwald when she married in 1981, was a “very devout kosher Jew” when the two met, according to the book.
“Over the subsequent years, Greenwald became an avid pro-Israel activist and conservative Republican who espoused Trump’s candidacy for president in 2016, and co-founded the political group Jews Choose Trump,” Ullman wrote.
Greenwald has written several blog posts and opinion columns for Jewish websites and Israeli news outlets praising Trump for his publicly pro-Israel positions.
During Trump’s presidency, the US broke with the old policy and moved its embassy from Tel Aviv to Jerusalem, the disputed holy city that the Palestinians also claim as the capital of their future state.
The majority of American Jews vote Democrats, although the main pro-Trump constituency – evangelical Christians – views support for Israel as a key aspect of their plan.
Public opinion polls among secular Jews leaning toward Democrats show an erosion of support for Israel and greater sympathy for the Palestinians.
Despite Trump’s warm embrace of Israel, the relationship was more complex than it first appeared, according to witness accounts.
Trump was furious when his ally, then-Israeli Prime Minister Benjamin Netanyahu, congratulated Joe Biden on his 2020 election victory — which the former president has long claimed was a fraud.
Phone call to congratulate Netanyahu with Biden Trump pushed to cut ties with one of the world’s few world leaders who was a supporter of the 45th president, according to a book by Israeli journalist Barak Ravid.
Jared Kushner, Trump’s son-in-law and senior adviser, He wrote in his memoirs that Netanyahu’s position alienates Trump Towards the then-President’s Middle East peace plan, I considered approving the prime minister’s political rival, Benny Gantz, before the March 2020 parliamentary elections.