MM sat down with a plugged-in, high-level tech guy on Wednesday who moves around at senior levels when in DC and NYC. His conclusion: current Fed Governor Lael Brainard is something close to a lock for Treasury Secretary if Hillary Clinton wins the White House.Brainard is a crazed advocate of aggressive Fed money printing. She is justifiably considered the head of the Federal Reserve dovish camp.
She spoke before the Council on Foreign Relations in June and said:
Thus, although some signs point to a firming of inflation going forward, I view the persistently low level of inflation during the recovery together with some signs of a deterioration in inflation expectations as suggesting that the risks to the return of inflation to our 2 percent target over the medium term are weighted to the downside.
Translation: She wants to keep interest rates low and money printing high until price inflation goes completely haywire.
I can't imagine what nutty theories she would bring to Treasury.