Come January, one of these men will be governing, and we don’t know nearly enough about what they will do over the next four years.
Joe Biden talks with moderators including CNN's Jake Tapper and Dana Bash at the end of a 2020 Democratic primary debate. | Mandel Ngan/AFP via Getty ImagesVictoria Guida is an economics reporter covering the Federal Reserve, the Treasury Department and the forces driving economic policy. Her column, CAPITAL LETTER, demystifies the policies, people and institutions that shape the financial system and the broader economy.
And here was Chris Wallace’s first economic question in 2020: “President Trump, you say we are in a V-shaped recovery. Vice President Biden, you say it’s more of a K-shape. What difference does that mean to the American people in terms of the economy?”But in each case, the moderator is ultimately just saying: “Talk about the economy.”
For example, Trump — after blowing up the free-trade consensus in Washington during his first term — has again made tariffs a centerpiece of his policy platform. He talks about them as a super-powered tool that will get companies to build factories here, punish countries that do things we don’t like and raise revenue for U.S. government coffers.
The president has taken targeted action on the supply side, including more measures just this week, but they all just nibble around the margins of the problem. He’s outlined more extensive ideas in his proposed budget, but is he willing to use political capital with Congress to do more?the presumptive GOP nominee’s plan includes cutting taxes, freeing up federal land and stopping illegal immigration.
that some of his advisers are going further, considering ways for the Republican candidate to more directly influence monetary policy. Asking Trump this question might reveal whether he has an agenda that goes beyond bashing Powell personally.
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