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Townhall ^ | 09/06/2019 |
We have an unelected, unaccountable administrative state that sees itself as separate from, and above the people. Now, it is intervening to make sure it gets a government that will be amenable to its rule.
The latest example of this is a stunning statement from former Fed monetary Vice Chair William Dudley. He was quoted in Bloomberg saying that the Fed should help defeat Donald Trump in the upcoming presidential election.
“Officials could state explicitly that the central bank won’t bail out an administration that keeps making bad choices on trade policy, making it abundantly clear that Trump will own the consequences of his actions,” Dudley said.
In other words, Dudley asserts that the central bank should do nothing to help the economy if it also helps Trump. Where is America in this calculation? Well, someone has to take a backseat to Dudley’s political positions, so it might as well be the financial well-being of the United States, right? But there’s more.
“There’s even an argument that the election itself falls within the Fed’s purview,” Mr. Dudley said. “After all, Trump’s reelection arguably presents a threat to the U.S. and global economy, to the Fed’s independence and its ability to achieve its employment and inflation objectives. If the goal of monetary policy is to achieve the best long-term economic outcome, then Fed officials should consider how their decisions will affect the political outcome in 2020.”
Yes, you read that correctly. Dudley just said that the Feds should join the Resistance. Though Dudley left the Fed last year, his influence is still very strong. His careless words should be a warning about the current state of an administrative state going awry........
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Since the days of Woodrow Wilson the left has been unrelenting in their attempt to seize power and undo the work of the Founding Fathers. We must NOT let that happen!
Townhall ^ | 09/06/2019 |
We have an unelected, unaccountable administrative state that sees itself as separate from, and above the people. Now, it is intervening to make sure it gets a government that will be amenable to its rule.
The latest example of this is a stunning statement from former Fed monetary Vice Chair William Dudley. He was quoted in Bloomberg saying that the Fed should help defeat Donald Trump in the upcoming presidential election.
“Officials could state explicitly that the central bank won’t bail out an administration that keeps making bad choices on trade policy, making it abundantly clear that Trump will own the consequences of his actions,” Dudley said.
In other words, Dudley asserts that the central bank should do nothing to help the economy if it also helps Trump. Where is America in this calculation? Well, someone has to take a backseat to Dudley’s political positions, so it might as well be the financial well-being of the United States, right? But there’s more.
“There’s even an argument that the election itself falls within the Fed’s purview,” Mr. Dudley said. “After all, Trump’s reelection arguably presents a threat to the U.S. and global economy, to the Fed’s independence and its ability to achieve its employment and inflation objectives. If the goal of monetary policy is to achieve the best long-term economic outcome, then Fed officials should consider how their decisions will affect the political outcome in 2020.”
Yes, you read that correctly. Dudley just said that the Feds should join the Resistance. Though Dudley left the Fed last year, his influence is still very strong. His careless words should be a warning about the current state of an administrative state going awry........
---------
Since the days of Woodrow Wilson the left has been unrelenting in their attempt to seize power and undo the work of the Founding Fathers. We must NOT let that happen!
