Real or not, Trump’s helicopter money drop should alarm Warsh
A US$1.2 trillion spend in an economy with stubborn inflation and burgeoning debt will rankle the Fed chair
A FEDERAL Reserve rate hike will go down like a lead balloon at the White House. But the gap between President Donald Trump’s wilder economic pronouncements and his new Fed chair is now so wide that the die may be cast.
Trump’s promise of US$5,000 cheques for every American probably offends Kevin Warsh’s monetarist sensibilities most of all.
Most analysts in Washington and on Wall Street think Trump’s pledge of a US$5,000-per-person dividend if Republicans retake Congress this November is a non-starter.
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