President Trump Wants a Dovish Fed Chair. He Fired Her

Thursday, July 26, 2018

On What’d You Miss this Week, Joe Wiesenthal, Scarlet Fu and Julie Hyman spoke with Greg Valliere, Horizon Investments Chief Global Strategist, about the feud that he has been warning for months was inevitable: President Trump versus the Federal Reserve. Valliere stressed that for him this is not a Federal Reserve story, it’s a markets story. Valliere went on to explain how the fringe idea of auditing the Fed, championed by lawmakers like Sen. Rand Paul, could go more mainstream. The Senate would be "the firewall" though, he cautioned. The irony was not lost on anyone, as Valliere made sure to point out that President Trump’s tweets imply he seems to want a more dovish Fed Chair. The President came into office with Janet Yellen "the most dovish Fed Chair in our lifetime" at the helm, and the he fired her.

Then Bloomberg Opinion Columnist Nathanial Bullard joined to discuss the Trump administration’s latest environmental regulation rollback: revoking California’s authority to set their own greenhouse gas emission standards. Bullard explained why the Golden State’s exception to the rule had the power to set de facto national standards across the country.

Sandy Darity, a professor in the Sanford School of Public Policy at Duke University, also joined to talk about the case for instituting a federal jobs guarantee. More left wing lawmakers, including Sen. Bernie Sanders and candidate Alexandria Ocasio-Cortez, have embraced the idea as a fresh pitch to working class voters. Professor Darity said he was surprised to see the policy that he has supported for over a decade catching on. For years people had told him this idea "would not have any legs." Darity discussed why this idea was not as radical as critics think and would come without the inflationary pressures of universal basic income.

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