by Shane Trejo, Big League Politics:

Former New York Fed President Bill Dudley wants the Fed to avert Trump’s “disastrous path of trade war escalation.”

The Federal Reserve has become a frequent target of President Donald Trump’s ire, as he believes the frequent interest rate hikes pushed by the central bank has held back his economic boom while preventing progress in the trade war against China.

….My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?

— Donald J. Trump (@realDonaldTrump) August 23, 2019

Former New York Fed President Bill Dudley has justified Trump’s many concernsabout the central bank’s subversive role, as the corporate insider is urging Fed leadership to sabotage President Trump’s re-election chances in 2020 to restore the status quo. 

“Central bank officials face a choice: enable the Trump administration to continue down a disastrous path of trade war escalation, or send a clear signal that if the administration does so, the president, not the Fed, will bear the risks — including the risk of losing the next election,” Dudley wrote in an op/ed on Bloomberg Newsaddressed to his former colleagues.

“After all, Trump’s reelection arguably presents a threat to the U.S. and global economy, to the Fed’s independence and its ability to achieve its employment and inflation objectives. If the goal of monetary policy is to achieve the best long-term economic outcome, then Fed officials should consider how their decisions will affect the political outcome in 2020,” he added.

Trump doubled down with another attack on the Fed on Tuesday, noting that their pattern of failed monetary policy has had catastrophic ramifications for the U.S. economy:

The Federal Reserve loves watching our manufacturers struggle with their exports to the benefit of other parts of the world. Has anyone looked at what almost all other countries are doing to take advantage of the good old USA? Our Fed has been calling it wrong for too long!

— Donald J. Trump (@realDonaldTrump) August 27, 2019

While the Fed has always taken the stance that they are independent and non-partisan, Dudley wants them to drop that guise because stopping Trump’s ‘America First’ trade policies should be their top priority.

“Officials could state explicitly that the central bank won’t bail out an administration that keeps making bad choices on trade policy, making it abundantly clear that Trump will own the consequences of his actions,” he wrote.

A former CIA officer turned whistle-blower claimed earlier this month that the Fed’s sabotage campaign against President Trump may already be underway.

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