From Bill Dudley, former President Federal Reserve Bank of NY and Vice Chairman of the Federal Open Market Committee. Given the arrant stupidity of writing something like this it’s no surprise that he’s currently a “Research Scholar” at Princeton.
There’s even an argument that the election itself falls within the Fed’s purview. 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.
h/t Market Ticker
3 replies on “Former Fed Official Declares War”
This is at least, a seditious statement. Really, he wants to subvert the Constitution? And why shouldn’t he after what the national intelligence community did in the last election? This lends a frightening meaning to Democrats wishing for a recession. Perilous times for our country…
Wow, the phrase abolish the fed jumps to mind with BS like that being spewed.
Just because you can impact something, doesn’t mean you should.
Since it’s the last paragraph I think he was writing that article and thinking “Should I waffle on about trade policy or should I go ahead and say what I REALLY think.” That’s what he really thinks, the Fed should choose the president.