Recently, Donald Trump accused Fed Chair Janet Yellen and the Fed of politicizing interest rates.
Her predecessor Alan Greenspan gave her some advice on Thursday during an interview on CNBC.
“I have great sympathy for her. I’ve been through that routine periodically for a long time,” Greenspan.
“You have to grin and bear it. It’s the only thing you can do,” He continued,
"The election is a factor for the Fed “but it’s not involved in the decision-making,” Greenspan said.
Fed officials “are aware that there is an election out there. They would prefer not to do something during an election. But, if it is called for, it is done,” he said.
“Would the Fed hold back if it should be moving? I would say no,” he added.
Greenspan reveals himself once again to be nothing but an establishment tool. Murray Rothbard had Greenspan nailed decades ago.