Will the Fed Crash the Economy to Defeat Trump?

Dudley thinks the Federal Reserve should allow the economy to slide into a recession in order to hurt Donald Trump’s chances of winning re-election. For a supposedly apolitical institution, that sounds like an awfully politically motivated position.
Will the Fed Crash the Economy to Defeat Trump?
President Donald Trump announces Jerome Powell as the new chairman of the U.S. Federal Reserve in the Rose Garden of the White House in Washington on Nov. 2, 2017. Samira Bouaou/ The Epoch Times
James Gorrie
Updated:

Should the Federal Reserve hold back on trying to avoid a recession? Bill Dudley, a former Federal Reserve member from New York, thinks that’s exactly what the Fed should do.

In his recent column for Bloomberg, Dudley proposed the Federal Reserve not lower interest rates to help an economy at the tail end of a long economic expansion and stifled by four years of Fed rate hikes as well as “the trade war” with China.
James Gorrie
James Gorrie
Author
James R. Gorrie is the author of “The China Crisis” (Wiley, 2013) and writes on his blog, TheBananaRepublican.com. He is based in Southern California.
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