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The fallout from former New York Fed President William Dudley’s op-ed on President Donald Trump continued Wednesday with former Treasury Secretary Lawrence Summers saying the column “might be the least-responsible statement by a former financial official in decades.”
In a series of tweets, Summers called the Dudley op-ed “the worst case of Trump derangement in the financial world.”
Dudley’s essay argued Help on essay the Fed should not “play along” with Trump’s trade war with China. He went further and said the Fed might help prevent Trump’s re-election.
Read: Fed should refuse to ‘play along’ with Trump’s trade war: William Dudley
Adam Po sen, the president of the Peterson Institute for International Economics, and a former central banker at the Bank of England, said Dudley’s column was “horribly mistaken.”
“It feeds conspiracy and it was totally irresponsible to talk that way,” he said.
He compared Dudley’s stance with how the European Central Bank, unhappy with the direction of fiscal policy in the euro zone, reacted to the Greek debt crisis in 2011 by raising interest rates twice.
“You can’t go out of your remit, it just gets a central bank killed,” Po sen said.
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