The Fed bows to Trump: Why lower rates and quantitative easing are not what we need

The Federal Reserve continues to bend the knee.

The preeminent technocratic and unelected central body has begun part two of its 180-degree pivot: the Fed has gone from projecting two rate increases as recently as December 2018 to being about a month away from its third rate decrease this year. Taking things a dovish step further, it also just announced it will begin expanding its balance sheet again via asset purchases and injecting liquidity into the system. President Trump has been a strident advocate of both in his all-out assault on the Fed.