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The Endless ‘Enemies’ List

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23.08.2019

“Who is our bigger enemy,” President Trump asked, “Jay Powell or Chairman Xi?”

What if I told you it was . . . [dramatic pause] . . . neither?

(First, a little rhetorical criticism: It would have been a better tweet if he had written “Chairman Powell or Chairman Xi,” for the parallelism.)

Jay Powell is the chairman of the Federal Reserve. He was put there by Donald Trump, a notable social-media figure who serves as president of these United States in his spare time. Xi Jinping is the Communist boss in China. He’s the guy on the other side of that “great, and easy to win!” trade war that Trump has started, which could end up inducing a presidency-ending recession. Trump has miscalculated badly vis-à-vis China, and he wants the Fed to bail him out, but the Fed’s mandate is dual rather than triune: It is to work toward price stability and low unemployment, not price stability, low unemployment, and........

© National Review