> Alternatively, he could watch everyone else vote to keep rates steady (or to raise them), and be a lone vote for cuts. That is, he could throw the rest of the Fed officials under the bus and proclaim to Trump that he really, really wanted to deliver rate cuts, but no one else would cooperate.
> I cannot overstate how cuckoo that would be.
> ...Warsh would look at best ineffectual, and at worst like the sockpuppet Democrats accused him of being when he refused to answer who won the 2020 election. It would be an act of self-humiliation.
Anyone interested in receiving a high-profile appointment from Trump has debased themselves already, and Warsh put emphasis on it when he refused to answer that question. He may very well be the lone voice calling for rate-cuts and it just won't matter in the scheme of things. He has nothing to lose by doing that.
> Alternatively, he could watch everyone else vote to keep rates steady (or to raise them), and be a lone vote for cuts. That is, he could throw the rest of the Fed officials under the bus and proclaim to Trump that he really, really wanted to deliver rate cuts, but no one else would cooperate.
> I cannot overstate how cuckoo that would be.
> ...Warsh would look at best ineffectual, and at worst like the sockpuppet Democrats accused him of being when he refused to answer who won the 2020 election. It would be an act of self-humiliation.
Anyone interested in receiving a high-profile appointment from Trump has debased themselves already, and Warsh put emphasis on it when he refused to answer that question. He may very well be the lone voice calling for rate-cuts and it just won't matter in the scheme of things. He has nothing to lose by doing that.