It was only a matter of time before Donald Trump’s absolute disregard for institutions began to infect the Federal Reserve.
Share to twitterHerman Cain, former chairman and chief executive officer of Godfather's Pizza, listens during a Bloomberg Television interview inside the Bloomberg Link during the Republican National Convention in Tampa, Florida, U.S., on Wednesday Aug. 29, 2012. Representative Paul Ryan takesPhotographer: David Paul Morris/BloombergIt was only a matter of time before Donald Trump's absolute disregard for institutions began to infect the Federal Reserve.
After a couple of initial appointments which, while somewhat controversial, were within the ballpark of central banker acceptability, Trump’s new picks, pizza mogul and failed presidential hopefulHerman Cain was most famous for his ‘999’ tax proposal—a flat, highly regressive plan of 9% tax rates on, respectively, personal income, national sales and corporate profits. One can only imagine the sort of creative prescriptions he might concoct for monetary policy.
Stephen Moore may be an even deeper affront to the Fed’s institutional integrity because of the highly political nature of the appointment.kept on criticizing Fed policy
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