I am not in the same camp as my Bloomberg Opinion colleague Stephen Gandel, who wrote that Trump is bad for the stock market. But the president seems baffled by his own decisions and appointments, as well as by some basic economic facts. Forget expert judgment — basic levels of competence are important to governing. Impulsive decisions driven by fundamental misunderstanding about monetary policy and basic economics will have consequences.
Until the president learns some critical lessons about monetary and economic policy, I suspect the White House will make personnel appointments and decisions with the potential to undermine the president’s own agenda. One can only hope the rest of us are spared the worst of the fallout.
This column was provided by Bloomberg News.