It goes without saying that Donald Trump has made an absolute mockery of the process by which he’ll select the next Fed Chair.
It’s undoubtedly occurred to him that this is, perhaps now more than ever, an extremely important appointment. Whoever gets the job will be in charge of unwinding the greatest experiment in the history of monetary policy with consequences that no one understands because nothing like this has ever been attempted before.
The fate of the stock market rally and really, the fate of the global economy, rests on the extent to which that effort goes smoothly, something Trump at least loosely gets according to comments he made 13 months ago about Yellen’s role in creating a “false” market.
But rather than take this seriously, he’s turned it into an episode of The Apprentice. He’s teased the market over and over again and this week he took the absurdity up another notch by conducting a “straw poll” of Republicans to see who they preferred and even went so far as to literally ask Lou Dobbs to weigh in on national television.
Well now – and I can’t even believe I’m saying this – Donald Trump has made a commercial teasing his forthcoming decision.
And yes, I am serious. Here it is:
You know what they say about how reality (TV) is sometimes stranger than fiction…