It would have been trivially easy for Trump to nominate a more dovish Fed chair better aligned with his own instincts on monetary policy. (“Hawkish“ central bankers are apt to raise interest rates, while “dovish” ones prefer to keep them low.) But Trump blew the call because he’s an incurious bullshitter who fails to do a modicum of basic homework before making major decisions, and is thus at the mercy of his advisers. While all presidents get advice from their advisers, and most presidents choose at least some officials who later go on to do things they don’t agree with, flubbing the Fed nomination in this way is indeed the kind of thing that could only happen to Trump.
Jordan Weissmann
