Should the Federal Reserve tank the economy to hurt President Trump in the 2020 election? One former Fed governor thinks so.
http://dailytorch.com/2019/08/should-the-federal-reserve-tank-the-economy-to-hurt-president-trump-in-the-2020-election-one-former-fed-governor-thinks-so/
Former New York Federal Reserve President Bill Dudley has come out to say he thinks that “the election itself falls within the Fed’s purview,” and that the central bank ought to do whatever it takes to make certain President Donald Trump loses the 2020 presidential election. “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,” Dudley wrote. Under 12 U.S.C. Section 242, “each member [of the Federal Reserve Board of Governors] shall hold office for a term of fourteen years from the expiration of the term of his predecessor, unless sooner removed for cause by the President.” If the President has reason to believe that members of the central bank are acting politically, he can remove them under the law. Something the Board of Governors should keep in mind when it meets again in September. What do you think?
