Trump’s Hand-Picked Fed Chair Basically Gave the Finger to Absurd Inflation Demands

2 min readOh, why do they laugh at his mighty sword?El Caudillo del Mar-a-Lago is having a very bad week, dictator-wise. His pet Supreme Court slapped him down on his voter suppression scheme. Then his plans to turn the Kennedy Center into a UFC arena raise holy hell all over the District. And now his personal choice for chairman of the Federal Reserve kicks him in the teeth. From The New York Times:The Federal Reserve raised rates by a quarter of a percentage point on Wednesday to a range of 3.75 percent to 4 percent. The decision was unanimous, which [chairman Kevin] Warsh repeatedly mentioned in a news conference as evidence that the central bank was resolute in its commitment to getting inflation down.“The plain fact is that inflation is too high and has been for too long,” Mr. Warsh said. Mr. Warsh demurred from any questions related to President Trump, who has made clear his desire for lower rates. Just days before the meeting, Mr. Trump threatened to cut off broad swathes of trade with other nations if the Fed did not cut rates. But as the Fed’s move on Wednesday shows, inflation is too big of a problem for policymakers at this juncture to entertain doing anything other than holding rates steady or raising them.Demurring, however, is not exactly in the president's wheelhouse.Interest Rates in the United States should be 1%, or less, because we are the Best Credit in the World — BY FAR. Our Country is BOOMING with new Investment! If we stopped Trading with every country that we have a Deficit with, which is most of them, we would make, at least, 1.5 Trillion Dollars a year. The word “Deficit” is nothing more than a fancy word for LOSS. We are “carrying” almost every country in the World, and that cannot go on any longer. LOWER THE INTEREST RATES FOR THE UNITED STATES OF AMERICA, AND FAST! President DONALD J. TRUMPKevin Warsh has taken quite a step here. In ordinary times, simply doing your job wouldn't be quite a step. But it hasn't been ordinary times for over a decade. Several economists made it a point while talking to Business Insider that Warsh's declaration of independence from the White House was the most significant part of today's news. It has become clear that the president is losing his grip not only on himself, but also on his administration and his presidency itself. In ordinary times, that would be a problem, but these are not ordinary times.