Center for American Progress

A new Fed head would expose Trump’s empty promises on trade
In the News

A new Fed head would expose Trump’s empty promises on trade

Authors Michael Madowitz, Josh Bivens, and Dean Baker explain how the Trump administration's choice on Federal Reserve chair could undercut the president's campaign promises on trade.

President Trump spent much of his 2016 campaign shouting about the dangers of Chinese currency manipulation leading to trade deficits and U.S. job losses in manufacturing. He promised to take action. To date, he has taken no visible action against China over its currency policy. Furthermore, he is now actively considering candidates for Federal Reserve Chair whose policies would amplify currency misalignments, grow trade deficits and risk more job losses in manufacturing than any trade deal he can sign.

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Authors

Michael Madowitz

Economist