Wayne Jett: Trump Runs Fed

03 Economy

Trump Runs Fed

Bloomberg News recently reported plans to create Special Purpose Vehicles designed to improve and expedite financing of major segments of
the U. S. economy through a cooperative effort between the Federal Reserve and the Treasury Department. Does this mean that President Trump is the new Fed chairman, as the Bloomberg author states? That is likely an overstatement, but the fact that this move is being made is partly explained by increasing popularity of Modern Monetary Theory. The move could pave the way to Treasury takeover of monetary responsibilities, and end to the Fed and eventual return to the gold standard for measuring currency value.

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