{"id":33788,"date":"2018-04-27T06:08:07","date_gmt":"2018-04-27T11:08:07","guid":{"rendered":"http:\/\/olduvai.ca\/?p=33788"},"modified":"2018-04-27T06:08:07","modified_gmt":"2018-04-27T11:08:07","slug":"donald-trump-and-the-next-crash-making-the-fed-an-instrument-for-disaster","status":"publish","type":"post","link":"https:\/\/olduvai.ca\/?p=33788","title":{"rendered":"Donald Trump and the Next Crash: Making the Fed an Instrument for Disaster"},"content":{"rendered":"<h3 class=\"headline\"><a href=\"https:\/\/www.counterpunch.org\/2018\/04\/27\/donald-trump-and-the-next-crash-making-the-fed-an-instrument-for-disaster\/\" rel=\"bookmark\">Donald Trump and the Next Crash: Making the Fed an Instrument for Disaster<\/a><\/h3>\n<div class=\"post_content\">\n<div id=\"attachment_101658\" class=\"wp-caption alignnone\"><img loading=\"lazy\" decoding=\"async\" class=\"size-full wp-image-101658\" src=\"https:\/\/uziiw38pmyg1ai60732c4011-wpengine.netdna-ssl.com\/wp-content\/dropzone\/2018\/04\/Screen-Shot-2018-04-26-at-5.02.32-PM.png\" sizes=\"auto, (max-width: 510px) 100vw, 510px\" srcset=\"https:\/\/uziiw38pmyg1ai60732c4011-wpengine.netdna-ssl.com\/wp-content\/dropzone\/2018\/04\/Screen-Shot-2018-04-26-at-5.02.32-PM.png 510w, https:\/\/uziiw38pmyg1ai60732c4011-wpengine.netdna-ssl.com\/wp-content\/dropzone\/2018\/04\/Screen-Shot-2018-04-26-at-5.02.32-PM-300x207.png 300w, https:\/\/uziiw38pmyg1ai60732c4011-wpengine.netdna-ssl.com\/wp-content\/dropzone\/2018\/04\/Screen-Shot-2018-04-26-at-5.02.32-PM-768x530.png 768w\" alt=\"\" width=\"510\" height=\"352\" \/><\/p>\n<p class=\"wp-caption-text\">Photo by futureatlas.com | <a href=\"https:\/\/creativecommons.org\/licenses\/by\/2.0\/\">CC BY 2.0<\/a><\/p>\n<\/div>\n<p>Warning: What you are about to read is not about Russia, the 2016 election, or the latest person to depart from the White House in a storm of tweets. It\u2019s the Beltway story hiding in plain sight with trillions of dollars in play and an economy to commandeer.<\/p>\n<p>While we\u2019ve been bombarded with a litany of scandals from the Oval Office and the\u00a0<a href=\"http:\/\/www.tomdispatch.com\/blog\/176399\/tomgram%3A_nomi_prins%2C_jared_kushner%2C_you%27re_fired%21\">Trump family<\/a>, there\u2019s a crucial institution in Washington that few in the media seem to be paying attention to, even as President Trump quietly makes it his own. More obscure than the chambers of the Supreme Court, it\u2019s a place where he has already made substantial changes. I\u2019m talking about the Federal Reserve.<\/p>\n<p>As the central bank of the United States, the \u201cFed\u201d sets the financial tone for the global economy by manipulating interest rate levels. This impacts everyone, yet very few grasp the scope of its influence.<\/p>\n<p>During times of relative economic calm, the Fed is regularly forgotten. But what history shows us is that having leaders who are primed to neglect Wall Street\u2019s misdoings often sets the scene for economic dangers to come. That\u2019s why nominees to the Fed are so crucial.<\/p>\n<p>We have entered a landmark moment: no president\u00a0<a href=\"https:\/\/www.forbes.com\/sites\/johnmauldin\/2017\/08\/17\/whoever-gets-appointed-to-the-fed-expect-negative-rates-and-qe-in-the-next-crisis\/#49fea7ee79d9\">since<\/a>\u00a0Woodrow Wilson (during whose administration the Federal Reserve was established) will have appointed as many board members to the Fed as Donald Trump. His fingerprints will, in other words, not just be on Supreme Court decisions, but no less significantly Fed policy-making for years to come \u2014 even though, like that court, it occupies a mandated position of\u00a0<a href=\"https:\/\/www.federalreserve.gov\/faqs\/about_12799.htm\">political independence<\/a>.<\/p>\n<p>&#8230;click on the above link to read the rest of the article&#8230;<\/p>\n<\/div>\n","protected":false},"excerpt":{"rendered":"<p>Donald Trump and the Next Crash: Making the Fed an Instrument for Disaster Photo by futureatlas.com | CC BY 2.0 Warning: What you are about to read is not about Russia, the 2016 election, or the latest person to depart from the White House in a storm of tweets. It\u2019s the Beltway story hiding in [&hellip;]<\/p>\n","protected":false},"author":1,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_monsterinsights_skip_tracking":false,"_monsterinsights_sitenote_active":false,"_monsterinsights_sitenote_note":"","_monsterinsights_sitenote_category":0,"footnotes":""},"categories":[2],"tags":[15249,5493,7844,238,303,575,694,3650,5264,865],"class_list":["post-33788","post","type-post","status-publish","format-standard","hentry","category-economics","tag-2016-us-presidential-election","tag-counterpunch","tag-donald-trump","tag-economic-crash","tag-fed","tag-nomi-prins","tag-russia","tag-us-federal-reserve","tag-us-supreme-court","tag-washington"],"_links":{"self":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33788","targetHints":{"allow":["GET"]}}],"collection":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts"}],"about":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/types\/post"}],"author":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/users\/1"}],"replies":[{"embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcomments&post=33788"}],"version-history":[{"count":1,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33788\/revisions"}],"predecessor-version":[{"id":33789,"href":"https:\/\/olduvai.ca\/index.php?rest_route=\/wp\/v2\/posts\/33788\/revisions\/33789"}],"wp:attachment":[{"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fmedia&parent=33788"}],"wp:term":[{"taxonomy":"category","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Fcategories&post=33788"},{"taxonomy":"post_tag","embeddable":true,"href":"https:\/\/olduvai.ca\/index.php?rest_route=%2Fwp%2Fv2%2Ftags&post=33788"}],"curies":[{"name":"wp","href":"https:\/\/api.w.org\/{rel}","templated":true}]}}