This is no way to run a central bank

Source: Editorial board, New York Times (Paid Registration)

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. Just as Mr. Trump crossed a line in naming opponents of pollution controls to lead the Environmental Protection Agency, his nomination of Judy Shelton amounts to an attack on the Fed’s congressional mandate to moderate inflation, minimize unemployment and regulate the financial industry.

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