The Fed’s Arrogant Election Interference And Trump’s Blind Squirrel Riposte

Yes, blind squirrels not only find the occasional acorn but apparently are quite adept at it. And don’t take our word for it since no less an authority than Copilot (Microsoft’s AI) has this to say about the matter:

Blind squirrels have developed remarkable adaptations to find food and survive despite their visual impairment…(they) rely heavily on their sense of smell and touch. Their whiskers and paws are highly sensitive, allowing them to detect the texture and shape of objects, including nuts…blind squirrels use their memory to remember its location… Their hearing becomes highly attuned, enabling them to detect sounds and vibrations in their surroundings.

This nugget of information put us in mind of the Fed’s outrageous pre-election decision Wednesday to cut interest rates needlessly, and Donald Trump’s correlated pronouncement about monetary policy and the so-called “independence” of the Fed.

He’s having none of it, of course, and on that proposition Trump seems to have stumbled in blind squirrel fashion onto the essential key to reviving the US economy, curtailing the runaway growth of the public debt and ending the Fed’s abject capture by Wall Street and the speculative classes that profit from its relentless inflation of financial assets.

Donald Trump, on the other hand, has recently indicated he would chip away at the longstanding tradition of the Fed having autonomy over interest rates. “I feel that the president should have at least [a] say in there, yeah, I feel that strongly,” Trump said in August.

This is supposedly rank heresy because the Fed is held to be a citadel of pure monetary science and supra-partisan high mindedness dedicated to the greater good. Yet anyone who believes that malarkey after today’s election-interfering announcement might want to look into some bargain-basement Florida swampland while they are at it.

Not surprisingly, however, Kamala Harris is all-in for this mainstream orthodoxy, blatantly pretending that the Fed is above the fray, when its very modus operandi is that of a deeply political enterprise. Everything the Fed does, in fact, is grounded in the statist politics of the Keynesian model. There is no economic science about it.