**Submission statement:** Paul Krugman discusses how many are incorrectly labeling Kevin Warsh as a reliable policy Hawk, perhaps sighing with relief, without looking at the reality of the situation.
That he is
1. Incompetent
2. A political lackey who will do whatever POTUS wants.
> So how does someone with that record end up in what is normally the most important economic post in the world (although I suspect that Warsh will be one of the least influential Fed chairs in history)? I would list five reasons, in no particular order.
>
> First, Warsh married into great wealth. Specifically, he married the daughter of Ronald Lauder, the cosmetics billionaire — who, bizarrely, is a key figure behind Donald Trump’s obsession with Greenland.
>
> Second, he has always been very good at ingratiating himself with influential people.
>
> Third, he’s an effective bullshitter. Sorry for the technical language, but I can’t find another way to say it. Listen to Warsh on economic policy, and he throws around a lot of big words that presumably sound impressive to people who don’t know anything about the subject. But there’s no coherent argument behind the verbiage.
>
> Fourth, he’s a Republican loyalist, who always wants to slam the economic brakes when Democrats are in power and step on the gas when Republicans rule.
>
> Fifth, as I highlighted in the Truth Social post screenshotted at the top of this piece, Donald Trump thinks he looks the part.
>
> It’s a humiliating day for the Federal Reserve, which has always prided itself on its professionalism and has been hugely respected around the world. But even the Fed can’t insulate itself from the derangement sweeping America.
Such_Journalist_3991 on
Fingers cross that a recession starts hitting before the midterms
imbaaaack12 on
Bernanke had positive things to say about him in the past and I trust Bernanke’s judgement infinitely more than Krugman. Tbh Krugman calling someone else a political animal is a little funny to me.
DataDrivenPirate on
I don’t think it’s unreasonable to disagree with his thought process or ideas, but he has served for 5 years on the Board of Governors during the 2008 recession (2006-2011). Saying he is unqualified to serve on that same board but now as chair instead feels disingenuous, he obviously has requisite experience
4 Comments
**Submission statement:** Paul Krugman discusses how many are incorrectly labeling Kevin Warsh as a reliable policy Hawk, perhaps sighing with relief, without looking at the reality of the situation.
That he is
1. Incompetent
2. A political lackey who will do whatever POTUS wants.
> So how does someone with that record end up in what is normally the most important economic post in the world (although I suspect that Warsh will be one of the least influential Fed chairs in history)? I would list five reasons, in no particular order.
>
> First, Warsh married into great wealth. Specifically, he married the daughter of Ronald Lauder, the cosmetics billionaire — who, bizarrely, is a key figure behind Donald Trump’s obsession with Greenland.
>
> Second, he has always been very good at ingratiating himself with influential people.
>
> Third, he’s an effective bullshitter. Sorry for the technical language, but I can’t find another way to say it. Listen to Warsh on economic policy, and he throws around a lot of big words that presumably sound impressive to people who don’t know anything about the subject. But there’s no coherent argument behind the verbiage.
>
> Fourth, he’s a Republican loyalist, who always wants to slam the economic brakes when Democrats are in power and step on the gas when Republicans rule.
>
> Fifth, as I highlighted in the Truth Social post screenshotted at the top of this piece, Donald Trump thinks he looks the part.
>
> It’s a humiliating day for the Federal Reserve, which has always prided itself on its professionalism and has been hugely respected around the world. But even the Fed can’t insulate itself from the derangement sweeping America.
Fingers cross that a recession starts hitting before the midterms
Bernanke had positive things to say about him in the past and I trust Bernanke’s judgement infinitely more than Krugman. Tbh Krugman calling someone else a political animal is a little funny to me.
I don’t think it’s unreasonable to disagree with his thought process or ideas, but he has served for 5 years on the Board of Governors during the 2008 recession (2006-2011). Saying he is unqualified to serve on that same board but now as chair instead feels disingenuous, he obviously has requisite experience