Wall Street Journal Says This ‘Failure’ By Republicans Will Come Back To Haunt Them
The Wall Street Journal exposed Republican short-term thinking in an editorial published Sunday.
Senate Republicans’ push to confirm President Donald Trump’s nominee Stephen Miran onto the Federal Reserve Board — amid Trump’s efforts to control the Fed and slash interest rates — may come back to haunt them, warned the newspaper’s conservative editorial board.
Read the full editorial at The Wall Street Journal.
The GOP “might regret the precedent the next time there’s a Democratic President. Which there will be, maybe as soon as 2029,” it said.
Miran will only take an unpaid leave of absence from his role as chair of the White House Council of Economic Advisers and return to it after, the Journal said, noting he won’t be “independent” and will likely just do Trump’s bidding.
“A tragedy of the Trump years is the failure of Republicans to look beyond short-term tactical political calculations to the implications of their decisions for the long term,” added the board, which despite its conservative leanings has become an unrelenting critic of some of Trump’s policies in recent months.
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“A progressive President will be able to point to Mr. Trump and Senate precedent if he tries to put a White House official on the Fed as Mr. Trump is now doing,” it concluded. “The failure to resist Mr. Trump’s executive-power excesses today will hurt the GOP and the country in the future.”