Economist Jason Furman on Trump's threats to interfere with the Federal Reserve:
"...the possibility that he follows through on them is perhaps the largest threat the economy faces."
This really hasn't gotten the attention it deserves. Trump has threatened to interfere with the Federal Reserve's independence and monetary policy.
We don't have to look far into history or around the globe to see what happens when a central bank becomes a political extension of the leader of the country. It is devastating to the economy.
Trump has shown profound ignorance of basic economic principles.
Trump repeatedly says that tariffs won't harm consumers or domestic firms and that they won't cause inflation.
Trump repeatedly claims that we won't have any more federal deficits, despite proposing to expand further tax cuts.
He promises to mass deport 20 million immigrants and shut down immigration to the US even though that would devastate our economy and cause labor shortages.
And he has pushed for lower interest rates while simultaneously promising lower inflation.