Janet Yellen Calls Trump’s Manufacturing Comeback a ‘Pipe Dream,’ Not Worth Pursuing [WATCH]

Former Treasury Secretary Janet Yellen downplayed the feasibility of reviving American manufacturing during a recent interview, calling the idea a “pipe dream” and questioning whether it should even be a “desirable goal.”

As Breitbart reported, the remarks come at a time when major tech companies are investing heavily in U.S.-based production, challenging her position.

Yellen, who led the Federal Reserve from 2014 to 2018 and later served as President Joe Biden’s Treasury Secretary from 2021 to 2025, made the comments Monday during an appearance on CNBC’s Squawk Box.

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She criticized the impact of former President Donald Trump’s reciprocal tariff policy, suggesting it created uncertainty for businesses and households.

“Things have been just chaotic,” Yellen said. “The reciprocal tariffs put on and paused … This is really creating an environment in which households and businesses feel paralyzed by the uncertainty about what’s going to happen — it makes planning almost impossible.”

When asked about the future of domestic production, Yellen dismissed the idea of bringing back American manufacturing, saying:

“Perhaps it’s to bring back American manufacturing, but I really think that’s a pipe dream, and not something that is likely to be accomplished. And we could even raise questions about whether or not, in a broad-based way, that’s a desirable goal.”

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Her remarks sparked swift backlash from conservatives, including Kentucky businessman Nate Morris, a potential Republican Senate candidate.

“The very same leftwing elites who are responsible for gutting our manufacturing base, screwing over our workers and building up the Chinese Communist Party,” Morris wrote on X, “are upset because President Trump is committed to putting America First and ending their globalist agenda.”

The very same leftwing elites who are responsible for gutting our manufacturing base, screwing over our workers and building up the Chinese Communist Party are upset because President Trump is committed to putting America First and ending their globalist agenda. https://t.co/ZwIvUhgpk4

— Nate Morris (@NateMorris) April 14, 2025

Yellen had previously criticized Trump’s economic strategy during an interview last week on CNN, where she described the Trump-era tariffs as “the worst self-inflicted policy wound I’ve ever seen in my career inflicted on our economy.”

“The Trump tariff plans are doing immense damage to our economy,” she told CNN’s Anderson Cooper during her first televised interview since President Trump returned to office.

The same politicians who sold American workers out to foreign countries for decades now say an American manufacturing renaissance is a “pipe dream” that isn’t even a “desirable goal.”

1) @POTUS doesn’t accept that.

2) That attitude is how we got here.

3) They hate you. pic.twitter.com/BbtyVABSGb

— Rapid Response 47 (@RapidResponse47) April 14, 2025

Despite her remarks, American investment in domestic manufacturing continues to surge.

On the same day as Yellen’s comments, tech giant Nvidia revealed plans to expand its AI operations within the U.S. The company announced it will build AI supercomputers in Texas and invest up to $500 billion into American AI production infrastructure.

“The engines of the world’s AI infrastructure are being built in the United States for the first time,” said Nvidia founder and CEO Jensen Huang.

“Adding American manufacturing helps us better meet the incredible and growing demand for AI chips and supercomputers, strengthens our supply chain and boosts our resiliency.”

The contrast between Yellen’s skepticism and Nvidia’s multibillion-dollar commitment highlights an ongoing divide over the future of U.S. industrial policy under the renewed America First agenda.

Watch the full interview:

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