Today on TAP: It’s not easy to engineer the combination of rising prices and falling economy output, but Trump is well on the way.
Federal Reserve
Posted inEconomic Policy
Keeping the Fed Independent—to Serve Wall Street
Chair Jerome Powell is battling to keep control of the Federal Reserve. He and Trump agree on weak regulation. On cheap money policy, Trump is winning.
Posted inEconomic Policy
Michael Barr Hands the Fed’s Financial Regulation Powers to Trump
The Fed’s vice chair of supervision is stepping down to avoid a fight with the incoming president.
Posted inTAP
Memo to Term Appointees: Stay Put!
Today on TAP: Trump wants to oust the Fed chair and the IRS commissioner. They need to stay, as checks against autocratic power and hack appointees.
Posted inEconomic Policy
Billionaire Gifts and Cuts for Everyone Else
The numbers don’t work for Trump, and neither do the politics.
Posted inTAP
Blood and Treasure
Today on TAP: The infighting grows fierce as Trump keeps searching for a Treasury secretary.
Posted inPolitics
Fed Chair Powell Enlisted in Failed Bid to Undercut Elizabeth Warren
Wall Street’s effort to keep Warren from becoming ranking Democrat on the Senate Banking Committee did not succeed.
Posted inEconomic Policy
Get Ready for Trump-flation
Trump won the election in part because of a backlash against consumer price inflation on Biden’s watch. Several Trump policies will make inflation much worse.
Posted inTAP
The Fed Finally Lightens Up
Today on TAP: Rates have been cut by a full half-point. It’s about time.
Posted inEconomic Policy
The Fed Caved on Bank Capital
Despite continued failures in the industry, the Fed decided to take orders from bank CEOs.