"Deep State" Dudley Flip-Flops, Urges Fed To Cut Rates, Avoid Trump-Killing Recession | Zero Hedge

"Deep State" Dudley Flip-Flops, Urges Fed To Cut Rates, Avoid Trump-Killing Recession | Zero Hedge: In late August, none other than former Goldman chief economist and the former head of the NY Fed, Bill Dudley, broke the golden rule of central-banking elitism - he publicly crossed the line into politics, arguing that "there is even an argument" that the Fed should crush the economy (arguably by hiking or not cutting rates) and start the next recession, thereby preventing Trump from getting re-elected.

..."this manufactured disaster-in-the-making presents the Federal Reserve with a dilemma: Should it mitigate the damage by providing offsetting stimulus, or refuse to play along?"

Dudley's advice: "If the ultimate goal is a healthy economy, the Fed should seriously consider the latter approach", i.e., defy the president.

A week later, after widespread derision, Dudley doubled-down - despite attempting to clarify what he meant in his previous op-ed.

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