Yohann's notebook

On the "crimes" of Jerome Powell

The problem with supporting - or even just cooperating - with someone as dishonest as President Trump is that eventually you have to either (1) join him in his belief that his conflicts with reality are, in fact, the result of a global conspiracy against him or (2) resist his impulses, and in doing so, become his enemy.

"It can't be that Trump is corrupt," his supporters reason. "Literally everyone else must be." So: Comey is corrupt, the CDC is corrupt, the NIH is corrupt, Fauci is corrupt, the FBI is corrupt, the BLS is corrupt, the CBO is corrupt, USAID is corrupt, James is corrupt, the courts are corrupt, the Joint Chiefs are corrupt, NATO is corrupt, Thomas Massie is corrupt, MTG is corrupt. All are implicated in a grand conspiracy to harm Donald Trump, who is upstanding, honest, and always right.

And now: Jerome Powell has refused Donald Trump's pressure to enact an inflationary policy -- dramatically lowering interest rates -- to help the president's political prospects. Therefore, Jerome Powell is "corrupt." It was only a matter of time.

The President's supporters also argue that Powell -- a Trump appointee -- is one of the millions afflicted by the fictional condition "Trump Derangement Syndrome", or "TDS." The charge of "TDS" is, IMHO, always a manifestation of his supporters' need to adjust reality for the President's defense. It is projection, entirely. It is the motivated reasoning of a person in a cult -- one of weak convictions who is willing to believe or accept what the moment requires. People who understood the importance of the Fed's independence (or the FBI's independence, or vaccines, or an apolitical military) 15 years ago now contort themselves to explain their tolerance of the breaking of these norms and their construction of a false reality -- and they call the opposition "deranged" for having not changed our minds.

#politics