Trump Is Wrong About the Fed, and the Fed Is Wrong About Economics

Milton Friedman once said that "money is much too serious a matter to be left to the central bankers." He was right. Still, we should ensure the Fed isn't being swayed by partisan interests.

Americans are probably accustomed by now to President Donald Trump lashing out against Federal Reserve Chairman Jerome Powell on Twitter. In one recent tweet, Trump asked his followers which man is America's "bigger enemy": Powell, or Chinese President Xi Jinping. In another tweet, Trump wrote that "China is not our problem….Our problem is with the Fed"...