"Glenn Reynolds: A key lesson of the Trump era is that every single allegedly neutral, nonpartisan, super-professional institution has turned out to be, in fact, a bunch of partisan hacks shilling for the permanent political party.
Voters can be forgiven for adopting a "burn it all down" attitude in response.
FTA: Perhaps you’ve seen former Chairs of the Federal Reserve defending the central bank’s independence and foreswearing all political intentions.
Fair enough.
But then what are we to make of former Fed monetary Vice Chair William Dudley’s marker that the Fed should help defeat President Trump in 2020?
...But Mr. Dudley seems to be saying the Fed should do nothing to assist the economy even if it heads into recession.
Fair enough.
But then what are we to make of former Fed monetary Vice Chair William Dudley’s marker that the Fed should help defeat President Trump in 2020?
...But Mr. Dudley seems to be saying the Fed should do nothing to assist the economy even if it heads into recession.
Then he goes further and essentially says the Fed should join The Resistance.
“There’s even an argument that the election itself falls within the Fed’s purview,” Mr. Dudley writes. “After all, Trump’s reelection arguably presents a threat to the U.S. and global economy, to the Fed’s independence and its ability to achieve its employment and inflation objectives. If the goal of monetary policy is to achieve the best long-term economic outcome, then Fed officials should consider how their decisions will affect the political outcome in 2020.”
Wow.
Talk about stripping the veil..."
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Talk about stripping the veil..."
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