Then COVID Hits

Donna Brazile: Donald Trump reminded a number of us of LBJ in a couple of respects. He came in proposing in Congress past a sizable tax cut out of an economy that we thought was at full employment already. And interestingly but not surprisingly, while a candidate Donald Trump berated the Fed then headed by Janet Yellen for being too loose. This is an example of political logic triumphing over Aristotelian logic. Then COVID hits. Trump supports Congress's gigantic fiscal stimulus. About 10% of GDP twice the size of the recovery act of 2009. The Fed is now doing everything it could think of. Bringing back everything it had done in the financial crisis, adding