Those indefatigable Trump defenders19th April 2019
Here’s an imaginary conversation, which will be completed in the comments section:
Me: Trump is obviously an ignorant buffoon.
Trumpistas: But look, he’s picking distinguished people for the Fed, such as Powell, Quarles and Clarida.
Me. That’s true.
One year later:
Me: Now Trump’s picking unqualified people for the Fed.
Trumpistas: It doesn’t matter if they are qualified, all that matters is whether they vote the right way.
Me: But these are super hawks who have praised the gold standard.
Trumpistias: Yes, but they are loyal to Trump, so while they were hawkish in the past, today they’ll do whatever it takes to help the President.
Me: But they are appointed for 14 years, and Trump’s term ends in less than 2 years. Will Trump want the Fed to help the next president? After all, he tried to get the Fed to hurt the previous (Democratic) president. Will these super hawks want a monetary policy that makes a socialist president look good in the eyes of the voters?
Trumpistas: TBD, in the comment section.
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