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Politicizing the Fed

8/31/2019

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The Federal Reserve’s job is to manage the economy based on economics, not politics. Most presidents have respected their role. Presidents Reagan, Clinton and Obama renominated chairs appointed by a president of the opposite party. That certainly wouldn’t happen in this highly charged political era.

Presidents may have tried to subtly influence the Fed. Of course, there is nothing subtle about President Trump. His bellicose tweets will accomplish nothing except to make him feel better and give his base some raw meat.
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Some are suggesting that they ignore their mission and pass judgement on Trump’s trade war with China. I guess the idea is that they should manage the economy only if they approve presidential policy. Otherwise, they should stand by and let a recession happen. Apparently, the adverse impact on the population is of little concern.

One prominent economist has gone even further. Bill Dudley, a former member of the Fed, said they should consider how their actions will impact the 2020 election. What’s next? Asking FEMA to go slow on rescuing people?

I am sick and tired of both parties putting their political battles ahead of the welfare of the American people. Sadly, there is no sign things are going to get better.
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    Hi! My name is Dave. I'm in my 60s and live in Indiana. I'll write about whatever is on my mind but most posts will be political. I'm a centrist who thinks both sides are on the wrong path.

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At long last this idiotic shutdown is over. Hopefully cooler heads prevail and it doesn’t start up again.

The real story is that 800,000 government workers are back on the job and many millions of people are no longer inconvenienced.

Unfortunately, that is not the story we are hearing in the media. Their story is about how Speaker Pelosi beat President Trump. He got himself into this mess. She decided that all that mattered was winning. The harm done to the people involved was of no concern whatsoever. A good leader puts the good of the people over political gamesmanship,

it would be nice to think that both people have learned their lesson and will try to do what is best for the
country. I sure wouldn’t bet on it.
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