The Federal Reserve has become a frequent target of President Donald Trump’s ire, as he believes the frequent interest rate hikes pushed by the central bank has held back his economic boom while preventing progress in the trade war against China.
….My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?
— Donald J. Trump (@realDonaldTrump) August 23, 2019
Former New York Fed President Bill Dudley has justified Trump’s many concerns about the central bank’s subversive role, as the corporate insider is urging Fed leadership to sabotage President Trump’s re-election chances in 2020 to restore the status quo.
“Central bank officials face a choice: enable the Trump administration to continue down a disastrous path of trade war escalation, or send a clear signal that if the administration does so, the president, not the Fed, will bear the risks — including the risk of losing the next election,” Dudley wrote in an op/ed on Bloomberg News addressed to his former colleagues.
“After all, 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. If the goal of monetary policy is to achieve the best long-term economic outcome, then Fed officials should consider how their decisions will affect the political outcome in 2020,” he added.
Trump doubled down with another attack on the Fed on Tuesday, noting that their pattern of failed monetary policy has had catastrophic ramifications for the U.S. economy:
The Federal Reserve loves watching our manufacturers struggle with their exports to the benefit of other parts of the world. Has anyone looked at what almost all other countries are doing to take advantage of the good old USA? Our Fed has been calling it wrong for too long!
— Donald J. Trump (@realDonaldTrump) August 27, 2019
While the Fed has always taken the stance that they are independent and non-partisan, Dudley wants them to drop that guise because stopping Trump’s ‘America First’ trade policies should be their top priority.
“Officials could state explicitly that the central bank won’t bail out an administration that keeps making bad choices on trade policy, making it abundantly clear that Trump will own the consequences of his actions,” he wrote.
A former CIA officer turned whistle-blower claimed earlier this month that the Fed’s sabotage campaign against President Trump may already be underway.
“So, it is apparent the Fed waited until Trump was elected to start hammering and pounding on the economy, which apparently they did not want to do under Obama. Can you raise the suspicion that the Fed is against Trump or that the Fed is trying to take the credit for the economy away from Trump? I think that appears to be entirely possible,” whistle-blower Kevin Shipp said.
“Trump has said it exactly right, it’s a war between Trump and the Federal Reserve, which, of course, is not federal and it has no reserves,” he added.
Shipp believes that the Fed’s current media blackout is a sign that their feverish behind-the-scenes plotting against Trump has rapidly escalated.
“Trump is at war with the Fed, and the Fed has put a lid on all its people. It’s a gag order to keep its people from talking about what the Fed plans to do,” he said.
Fed Chairman Jerome Powell is already laying the groundwork for what may be a controlled demolition of the Trump economic recovery before next year’s election.
“The global growth outlook has been deteriorating since the middle of last year. Trade policy uncertainty seems to be playing a role in the global slowdown and in weak manufacturing and capital spending in the United States,” Powell said.
“While monetary policy is a powerful tool that works to support consumer spending, business investment, and public confidence, it cannot provide a settled rulebook for international trade,” he added.
It has become clear that the private, unaccountable, unelected cabal of bankers who run the Fed are apart of the swamp that President Trump must drain if he wants to make America great again.
Pete Buttigieg: Keystone XL Pipeline Workers Need to Get Different Jobs
What new jobs, exactly?
Imagine being told to ‘learn to code-‘ in the midst of the coronavirus pandemic and an economic recession.
Biden’s Department of Transportation nominee, Pete Buttigieg, did almost exactly that in Senate confirmation proceedings on Thursday, flatly stating that union workers employed in the construction of the Keystone XL pipeline need to get different jobs. President Biden terminated construction approval for the pipeline on his first day in office.
Senator Ted Cruz questioned Buttigieg about the administration’s plans for workers promptly swept out of a job.
“The answer is that we’re very eager to see those workers continue to be employed in good paying union jobs, even if they might be different ones.”
Liberal assertions that unionized, well-paying, blue collar jobs can be easily and swiftly replaced with employment in the alternative energy industry don’t tend to pan out. California’s government has struggled to deliver the so-called “green” jobs the state’s leaders promised upon implementing new fossil fuel regulations and restrictions, further eroding the state’s middle class. California stopped counting the creation of “green” jobs in 2013, with many suspecting that the state was inflating the total.
Biden’s crackdown on the fossil fuel industry comes as many who rely on face economic insecurity and damaged prospects as a result of the recession. Trucking industry experts expect President Biden to crush small trucking companies, with an impending spike in fuel prices harming truckers that work as independent contractors.
Expect much of the neoliberal “learn to code” callousness throughout the next four years. It’s easy to imagine simply making a bureaucrat-imposed career change when you’re connected to the levers of power of the Washington D.C. establishment.
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