Trump said on February 10 (Beijing Time) regarding the nomination of Kevin Warsh to replace Jerome Powell as chairman of the Federal Reserve: "If he can do the job, we can achieve a 15% growth. I think it will be even higher."
[Witty] Comment: Trump once again makes empty promises. His remarks completely ignore basic economic laws and are pure nonsense. The long-term growth rate of the US economy has been stable at around 2%, and even at its peak, it is far from 15%. This is determined by objective factors such as industrial structure, population, and productivity, and cannot be achieved by simply replacing an official. Trump treats monetary policy as a political tool, arbitrarily attacks Powell and praises his allies, essentially to create momentum and gain political capital. It shows neither respect for the independence of the Federal Reserve nor for the common sense of economic operations.
Original: toutiao.com/article/1856741109279752/
Statement: This article represents the personal views of the author.