Thursday, October 19, 2017

Janet Yellen Really?

President Trump is scheduled to meet today to interview Janet Yellen for renomination as Chair of the Federal Reserve. Article after article about the five leading candidates treats Yellen as a viable nominee, including the New York Times treatment "The Economy is Humming, But That May Not Win Janet Yellen Another Term" . That piece looks at pros and cons Trump may be considering. "Presidents in recent decades have generally decided to reappoint Fed chairmen, even from the opposing political party, on the theory that stability would comfort markets." reports the Times, which emphasizes the historical perspective, going back to Volker's chairmanship.
source: dailytelegraph

But Janet Yellen was appointed by one President Barack Obama and confirmed in 2014. Her chance of being nominated by Trump to remain in her post is 0.00% because Trump has signaled clearly in action after action as president that he wants more than anything to undo every action that Obama took while in office.

Yellen's chances are similar to Romney's chances of nomination to a post in the current administration following his visceral denunciation of Trump during the 2016 campaign. Romney had no chance when he met with the president-elect in Trump Tower a year ago. Zilch. Zip. Nada.

The basic irrationality and antagonistic posturing of Trump is intrinsically a key component of his decision making process that should not be ignored by news organizations who continue to pivot to a normalcy perspective on Trump - "No matter what he does, we need to report on every issue as if he might be normal this time, rather than consistent with his prior practice."

This would be a good time to abandon that practice once and for all.

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