Chinese Official Laughs In Trump's Face

That's what I thought it was and it is not usually binding, the buffoon in the room that said otherwise is probably wrong. In order for a MOU to be legally binding it has to contain the 5 basic items of a Contract in which case it is a Contract not a MOU. Contracts are binding MOU are not. Trump is explaining the business definition exactly and I am pretty confident the business definition applies between countries as well. Again why it pays to have someone with actual business experience in the Oval Office versus an easily confused Politician. MOUs attached to arms agreements might be treated differently but for trade or commerce I would think they use the common business definition. Iadarola is a nobody, never heard of the guy and he probably clueless on the items being discussed.

Yellens comments on Trump were taken out of context. The larger discussion was what the Fed should be doing and what Congress mandates. Yellen was making an argument that the Fed is limited in what Congress mandates and cannot generally do what other Central Banks do. It wasn't made or intended to imply Trump was stupid only to say that he didn't understand the limit of the Congressional Mandate. The Fed cannot act necessarily as other foreign government Central Banks do because of the Congressional Mandate. Further not surprising most Democrats sitting in Congress supervising the Fed have no clue what the Fed does even after the Fed Chairperson explains it to them and all you have to do is watch CSPAN when the Fed Chairperson testifies before Congress......it's sad when they publicly ask for "English" translations of what should be commonly understood high school level economic terminology.