John Cassidy: The High-Stakes Battle Between Donald Trump and the Federal Reserve

The link above is to a New Yorker article that is a bit on the hyperventilating side. I think Donald Trump will lose this battle; so at this point there is no need for alarm. But the fact that Donald wants to weaken the independence of the Fed is to his discredit. If Donald Trump thinks the Fed makes too many mistakes in the direction of tightness, a good appointment now would be a Market Monetarist. By contrast, appointing—or trying to appoint—political hacks is destructive of the institution of the Fed.