Trump is seeking GOP flip-floppers to reshape the Fed
, Trump said low rates were creating a bubble and that “Janet Yellen should have raised the rates.”
That could not be more different from her longstanding contention that the Fed should strive for no inflation — rather than its current 2 percent target — a position that would call for higher rates in the face of inflation hovering a bit below 2 percent.against low rates that have made “suckers” out of savers over the past decade.
By signing up you agree to receive email newsletters or alerts from POLITICO. You can unsubscribe at any time. Kudlow added that his advocacy for rate cuts now amounts to a call for the Fed to acknowledge that it went too far in its hikes, not that the entire policy of trying to return to a more normal rate environment was wrong.
Progressives who have long advocated for the Fed to hold off on rate hikes and allow the economy to run hotter and draw more people back into the labor force — often called “doves” — are skeptical of all these rationales for conservatives flipping their views on monetary policy.
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