01 November 2018

Trump Says The Federal Reserve Is the “Biggest Threat” to His Presidency. So Why Hasn’t He Done Anything About It?

Ultimately, Trump’s goal in criticizing the central bank seems to be distancing himself from any damage they inadvertently inflict on the economy. But the president has had the opportunity to pick a Fed board that would better reflect his own intuitions about interest rates. If his failure to do so backfires on the economy, he’ll deserve all the blame that inevitably comes his way.

Jordan Weissmann