Over at WaPo.
I left one extra-wonky point out of the piece, which deserves mention here. There’s an interesting way in which a more hawkish Fed chair–and most of the top candidates other than Yellen fit that bill–would be a double whammy for Trump.
First, raising rates would slow growth, which presidents never like. Second, higher rates strengthen the dollar, making our exports less price competitive, which this particular president really wouldn’t like.
Yes, Trump is never rational, so no, I don’t believe these sensible (at least, to me) arguments will win the day. But Yellen remains a front-runner, and the huge difference between having someone with her sensibility chairing the Fed versus a much more hawkish chair cannot be overestimated. Thus, this is an important, worthy fight.