Trump Says Economy Can Grow 15% With Next Fed Chair Kevin Warsh And Here’s How

What the hell, Trump picked a Fed Chair??? How did I miss this?? I’ve literally written an article about Jerome Powell every other day and this slips by me? Oh geez, I’m really not very good at my job, am I…?

Anyway! Kevin Warsh isn’t even the Fed Chair yet and yet and yet he’s already taking flak from his supreme leader, Donald Trump. The latest comes from an interview with Fox Business on Monday in which El Presidente said if Warsh “does the job that he’s capable of, then we can grow at 15 per cent, I think more than that.”

Obviously that’s highly speculative, but Trump has never lied or embellished before so I guess he knows something we don’t.

Although, looking at the plan here, Trump was on Powell’s back because he wouldn’t cut the interest rates. Now Warsh is Trump’s lackey so will be primed to cut interest rates multiple times. Too large a cut could increase inflation (don’t ask me how though, like, ‘economics’ or something?). So then with more inflation, would Warsh really deliver that 15% growth that Trump is implying?

Are we just going to get the same thing again, Trump appoints this guy and then gets mad when he starts doing his job?

Because it seems like, regarding Powell and as evidenced by Trump’s latest comments, the President seems to think that the Fed Chair has more power than he does. As if the guy can just wave his wand and decree that the economy can be good from now on. Sure, the Fed does have some sway, but it’s mostly reactive and at the whims of the hugely complicated tides of the global economy.

Does this speak to Trump’s understanding of the world in which everything is controlled by a few men in charge who can be bought and nothing is out of his control.

Hmm, if only there was a word for that world view… oh well.

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