The Federal Reserve takes the Goldilocks view of economic growth: not too hot, not too cold. President Trump, by contrast, has made it clear that he wants the economy to grow as fast as possible in the short term, even if that increases the risk of an eventual crash. Presidents are empowered to pick central bankers who share their economic views, but not to undermine the goals that Congress has set for the central bank. The central bank, charged with moderating inflation, minimizing unemployment and regulating the financial industry, spearheaded the government’s efforts to revive economic growth after the 2008 crisis. But since becoming president, Mr. Trump has repeatedly attacked the Fed and its chairman, Jerome Powell, for failing to do more, including in comments this week.

Source: International New York Times February 12, 2020 01:30 UTC