Can’t bank on President
PRESIDENT Trump’s name was rarely mentioned as top central bankers and economists spent Friday mulling the fate of the global economy at a mountain lodge in Wyoming.
But his presence loomed large at a Federal Reserve symposium, and even without citing the man in the White House, the presentations — from Fed Chairwoman Janet Yellen, European Central Bank President Mario Draghi and a host of researchers — amounted to a broad rebuttal of many of the ideas that carried Trump to office.
It was a day when the President’s calls for financial deregulation and “America First” economic nationalism were countered by Yellen’s reminder of how a deep financial crisis wrecked the economy a decade ago.
Draghi gave a broad call for free trade and stronger multilateral institutions of the sort Trump has criticized.