Image: The twelve Federal Reserve Banks buildings in 1936. Public domain.
Richard Epstein, Chicago & NYU Law; Hoover. “On Friday, August 30, Trump confidently tweeted
that anyone who thinks that his aggressive trade war with China could lead to a recession is sadly misinformed. He offered his own two-part explanation for a possible economic downturn. First, unnamed but ‘badly run and weak companies’ are being undone by their own incompetence. Second, their present plight has not been caused by the trade war, but rather by the Federal Reserve’s failure to rapidly cut interest rates. . . ." https://www.hoover.org/research/trumps-trade-travesty