Post #59588 by velcher on the US Policy board

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Under the second Trump Administration, warping policy to benefit the President’s political and financial self-interest, and that of his allies, has become standard procedure. A small sampling of his corruption includes the Trump family selling millions in tokens to those seeking Presidential favors; Trump’s pardon of Changpeng Zhao, the Binance founder, a key supporter of the family crypto venture; Trump wresting a $16 million settlement from a risible defamation suit against CBS while the network’s corporate parent was seeking government approval for a merger.

The President does this openly. He acts as if he does not recognize a distinction between the public and his personal interest—which he does not.

What if Trump installed a lackey to control the Fed? We could expect that this nominal public servant would dictate interest rates according to Presidential whim.

We know where his whim leads—toward inflation. In all seasons, Trump demands low interest rates. These might favor his real estate assets but not the public interest in having a stable currency.

https://open.substack.com/pub/rogerlowenstein/p/do...

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