It’s starting to look like Yellen could take the fall for inflation

We might be seeing the final chapter in Janet Yellen’s career in public service.

Bloomberg is out with a report today saying that she’s being increasingly sidelined and stuck in the blame game about the failure to forecast inflation and craft a message that highlights external forces.

Democrats are reeling on almost every front but inflation is the biggest one. The former Fed chair is likely to be the scapegoat.

Yellen has never been a great communicator. She revels in simplicity and models around messaging but the report said she went off message in a May 31 interview where she admitted she ‘was wrong’ on inflation.

The report today “is based on interviews with almost two dozen current and former senior officials in the US and elsewhere.”

It says she “appears to lack the nimbleness that’s prized by denizens of the White House” and it’s made her an awkward fit and left her outside the President’s inner circle.

Perhaps most-telling is that a number of conservative commentators are now focusing on Yellen. That suggests they smell blood in the water and an opportunity to score a win in chasing her out the door.

A further sign may be Yellen’s upcoming biography, where report suggest she may reveal that she pushed back on the size of stimulus packages, arguing they could be inflationary.