“I think Trump is really holding a grudge, and rightly so” noted Antoni, “I’m not sure that there’s anything Trump can do to work with this institution [the Fed]. I think what he really needs to do is clean house.
As basis for this recommendation, he argues that the Fed has been political in dropping interest rates during the Biden-Harris administration, while likely holding rates under Trump 2.0. Of course, Dr. Antoni does not make much reference to the Taylor rule — which can be excused as his dissertation was in public finance — but the rule suggests that the current rate is appropriate.
Source: Atlanta Fed.
I must say the inconsistency I see is that, as Dr. Antoni has been arguing that the US has been in recession since July or August, and such instances it would’ve made perfect sense to reduce interest rate. (I don’t know what Dr. Antoni has been arguing is the state of the economy since the election.)
My only question is who Dr. Antoni has in mind to be Trump’s Walther Funk.
maybe antoni wants an appointment at the fed? he is eminently qualified, in the words of rick stryker.
Where Antoni’s argument falls apart is ” I think…” We often see the same weakness in comments here. “I think…” amounts to an appeal to authority compounded by egotism. Two strikes. “I think” is barstool-quality stuff.
Off topic- Being really bad at being in charge:
The White House has rescinded its memo freezing government funding:
https://thehill.com/homenews/5113527-omb-federal-funding-freeze-rescind/
But only the memo has been rescinded, not the order:
https://thehill.com/homenews/administration/5113776-white-house-press-secretary-spending-freeze/
Why rescind the only guidance agencies have, while continuing the freeze? To avoid confusion! The courts, you see, the courts have caused cinfusion:
https://thehill.com/regulation/court-battles/5114223-judge-democratic-challenge-omb-order/
Right.
Meanwhile, there is uncertainty over whether school lunch programs have lost funding. How do Republicans I tend to deal with that? Well obviously, kids should get jobs:
https://thehill.com/homenews/house/5112987-ritch-mccormick-funding-freeze-school-lunch/?tbref=hp
Wanna eat, second grader? Ya gotta work.
Off topic – another look at why Trump is sounding like an old-fashioned imperialist:
It’s because he is an old-fashioned imperialist, and because he actually does know that climate change is working fundamental changes. Here’s a bit from “The coming great global land reshuffle” by Michael Albertus, professor of political science at U. Chicago, in today’s FT:
“The share of Canada’s farmland suitable for agriculture could expand dramatically in coming decades as temperatures rise. Greenland is another expected climate winner. In addition to being located along anticipated future international shipping routes and hosting a more temperate climate, it is believed to be home to valuable untapped mineral resources including iron ore, lead, gold, rare earth elements, uranium and oil.”
https://archive.is/mKZaf
There’s more to the article, most of which would inspire an old-fashioned imperialist to grab land. The difference between now and the good old days of colonial expansion is that land and waterways in the north, rather than the south, are now the prize.
More like Hitler, less like Columbus.