Never Ask an Inflation Hawk to Do a Dove’s Job
Trump whines that his hand-picked Fed chief is raising rates too fast. He never should have dumped Janet Yellen.
Bloomberg, October 26, 2018
If you want a dovish monetary policy, don’t appoint a hawk as Federal Reserve chairman.
That is the most recent lesson that political neophyte and U.S President Donald Trump seems to be learning.
Or at least that’s the conclusion any reasonable person in these unreasonable times might draw based on what the president says.
Of course, Trump says a lot of things, many of which seem spontaneous, provocative, at odds with the facts or outrageous — often some combination of the above. Others seem more thoughtful, tactical and calculated. They all come in an endless fire hose of tweets, asides, interviews and rally speeches . . .
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I originally published this at Bloomberg, October 26, 2018. All of my Bloomberg columns can be found here and here.
