August 28, 2019

Matt Schlapp, one of Trump's most prolific toadies on Fox News, sowed the seeds of a Federal Reserve conspiracy against Donald Trump with absolutely no evidence of what he claimed.

During a segment discussing the Democratic presidential primary, Sandra Smith changed topics and quoted what Bill Dudley, a former member of the Fed wrote in a Bloomberg op-ed.

Dudley is very unhappy over Trump's crazed China tariff trade war and had words of advice for Fed chairman Jay Powell.

Yet the Fed could go much further. 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.

Such a harder line could benefit the Fed and the economy in three ways. First, it would discourage further escalation of the trade war, by increasing the costs to the Trump administration. Second, it would reassert the Fed’s independence by distancing it from the administration’s policies. Third, it would conserve much-needed ammunition, allowing the Fed to avoid further interest-rate cuts at a time when rates are already very low by historical standards.

In other words, Dudley laid out a plan of action to help combat Donald Trump's unrelenting attacks and incessant meddling on the Federal Reserve.

Many stock market analysts do not want the Fed to kowtow to Trump and lower rates anymore because it's a tool to be used when the economy starts going sideways.

To Matt Schlapp this prudent approach equals a "deep state conspiracy" against Donald Trump.

After reading some of the op-ed Sandra Smith said he is "basically suggesting that Fed should consider its actions based on the president's policies. The Fed has rejected any politicization of the Federal Reserve."

Schlapp replied, "The fact there are people working at the fed -- who would actually try and do in Donald Trump. Unfortunately, I hate to say it, is very believable to me."

A conspiracy against Trump born from nothingness, except Schlapp's feelings. Way to go, Matt.

"But I think there are people in elite circles, not only in corporate America, but at the Fed and other bureaucracies in this city that hate [Trump] so much that they actually do work overtime to try and make sure that he's not successful," he continued.

"There's something rotten in Denmark here," he said. I was only shocked he didn't refer to Greenland instead.

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