Posted on 09/28/2016 3:08:02 AM PDT by expat_panama
Even with two years remaining in her term, Federal Reserve Chairwoman Janet Yellen may quit if Donald Trump is elected president, an economist argued on Tuesday.
Paul Ashworth, chief U.S. economist at Capital Economics, said in a note to clients that Trump doubled down on criticism of the Fed during his debate with Hillary Clinton.
Trump said the U.S. economy is in a big, fat, ugly bubble and specifically called out Yellen.
And we have a Fed thats doing political things. This Janet Yellen of the Fed, he said. The day Obama goes off, and he leaves, and goes out to the golf course for the rest of his life to play golf, when they raise interest rates, youre going to see some very bad things happen, because the Fed is not doing their job...
...he would continue with his public criticisms of the Fed in the run-up to that meeting, arguing that a rate hike would be a political attempt to damage the economy ahead of his presidency. The main reason for believing that Yellen would resign almost immediately is that falling on her sword would take some of the political heat off the rest of the FOMC...
...Trump would in turn be more likely to nominate someone who would bow to political pressure and leave interest rates lower for even longer than the Yellen-led Fed would have done.
(Excerpt) Read more at marketwatch.com ...
The last vote to raise rates was seven against and three for. Keep your chin up.
Politics means power. Everything the fed does is entirely political, now. The real question is: how much of the Fed's power is controlled by we, the people?
They're just the tail wagging the dog, now, and that needs to stop.
So the solution is to make it completely political and every decision made done with an eye to what affect it will have on the upcoming election? Or to make the administration look bad? That's a solution? The real question is: how much of the Fed's power is controlled by we, the people?
Turning the whole shooting match over to Congress is having it controlled by you, the people? You really think that?
It IS completely political. Just not transparently so. Which is worse.
Turning the whole shooting match over to Congress is having it controlled by you, the people? You really think that?
Sounds like you have doubts about the republican format of government outlined in the Constitution.
Disclaimer: Opinions posted on Free Republic are those of the individual posters and do not necessarily represent the opinion of Free Republic or its management. All materials posted herein are protected by copyright law and the exemption for fair use of copyrighted works.