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Comment by elforce002 | Hacker News Reader

Interesting. The current administration is proud of its low unemployment numbers while pulling this move.

The hypocrisy writes itself, hehe.

? For one thing, the Fed isn't really part of the administration. So the executive branch can attempt to take credit for the statistic even while the Fed tries to destroy it.

The Federal Reserve is not part of “the administration”. It’s (supposed to be) an independent entity.

It's the same as Trump boasting about the bull market when it was merely a continued trend line from Obama days. Politicians love presenting favourable statistics to make themselves look good regardless of whether they did something to make that happen.

The Fed enjoys some level of policy independence so they don't take every order from the administration like a dangling puppet. So the current administration's involvement in this is somewhat limited.

It doesn't seem quite the same. Instead of "praise me for what I inherited", it's more like:

"I'm proud of low unemployment. Low unemployment is valuable and is something we want." Meanwhile the Fed is seeking to increase unemployment.

The Fed isn't directly controlled by the executive branch. And when unemployment trends become serious, it will remind the Fed that the Fed's mandate includes achieving maximum employment.

Yes.

Also, can you imagine how Trump and right-wing media would have bitched if these moves by the Fed occurred during his administration?

DEep StatE Fed bureaucrats trying to win election for socialists, etc

Politicians are most honest when they are lying it seems :)

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