Whoah. The last para of this Bill Dudley piece on the Fed and politics via
Wow, this Op-Ed from former NY Fed President Dudley. I must say, as a citizen, I find it to be a very disturbing view that the Fed should stop fulfilling its full mandate if doesn't like government policy
Bill Dudley has gone off the rails! “There’s even an argument that the election itself falls within the Fed’s purview.” The Fed should NEVER have a POLITICAL bias. This is what people mean when they talk about the “deep state.”
Former NY Fed Pres. Bill Dudley urges Fed NOT to cut interest rates to help Trump’s trade war (or his re-election) “Trump’s re-election probably presents a threat to the US and global economy,” he says. #Fed #trade
"There’s even an argument the election itself falls w/ the Fed’s purview. After all, Trump’s reelection arguably presents a threat to the US and global economy, to the Fed’s independence and its ability to achieve its employment and inflation objectives."
Oh boy. The walk-off line alone here....
This is not just wrong, it is borderline irresponsible for a former high level fed official to write now
All my political sympathies are with Dudley. But what he is suggesting - trying, by refusing to act in the face of recessionary forces, to pushTrump into different policies or out of office - is to abet Trump's goal of politicizing the Fed. via
Bill Dudley's Bloomberg oped, The Fed Shouldn't enable Trump, is the worst case of derangement in the financial world. via
Open warfare at the Fed, the world’s Central Banks and the White House is the perfect setup for #Bitcoin $25,000. Bitcoin’s mathematically driven, autonomously implemented monetary policy fixes both political and monetary chaos.
In which former NY Fed president Bill Dudley argues the Fed should not offer a safety net for what he calls Trump’s bad trade policies. A must-read from ⁦
Actually, the Federal Reserve should get involved in politics, says the former president of the New York Fed via
Modeling an independent Fed with no fiscal policy is hard enough. Now imagine modeling a Fed that knows it's interacting with fiscal policy AND partisan politics.
This from former NY Fed President Dudley is the kind of thinking that got the Eurozone into such bad shape a few years ago.
I argue that not easing monetary policy in a trade war is optimal as it's a permanent negative supply shock that can't be undone by the Fed The Federal Reserve should get involved in politics, says the former president of the NY Fed
Actually, the Federal Reserve should get involved in politics, says the former president of the New York Fed via
Today's teachable Bitcoin commercial is brought to you by former chairman of the New York Federal Reserve, Bill Dudley, who illustrates a very common way pre-bitcoin monetary systems malfunction: politics.
Actually, the Federal Reserve should get involved in politics, says the former president of the New York Fed via