Maury Obstfeld at PS says it better than I ever did (along with the best graphic *ever*): Trump’s advisers are reportedly considering two complementary policy changes. One proposal reportedly involves increasing direct presidential control over the Fed’s interest-rate decisions and rulemaking. Simultaneously, Trump’s trade team, led by former US Trade Representative Robert Lighthizer, apparently wants to weaken the … Continue reading Maury Obstfeld: “Trump’s plans for the Fed and the dollar are a one-way ticket back to the inflationary chaos of the 1970s.”