IMF's Chief Economist Takes Subtle Slap at Trump

IMP Chief Economist Gita Gopinath

Speaking to CNBC in Portugal on Wednesday, the chief economist of the International Monetary Fund Gita Gopinath took a subtle slap at President Trump.

Earlier in the week, Trump had criticized, via Twitter, European Central Bank President Mario Draghi's comments that further monetary policy changes may be needed by the ECB, saying that would spark unfair European competition against the United States.

Mario Draghi just announced more stimulus could come, which immediately dropped the Euro against the Dollar, making it unfairly easier for them to compete against the USA. They have been getting away with this for years, along with China and others.

— Donald J. Trump (@realDonaldTrump) June 18, 2019

German DAX way up due to stimulus remarks from Mario Draghi. Very unfair to the United States!

— Donald J. Trump (@realDonaldTrump) June 18, 2019

He also continued his open criticism of Federal Reserve Chairman Jay Powell for "raising rates too fast."

Trump, in other words, is a monetary inflationist just like establishment insiders but they do not want him inside the club. Gopinath's subtle comment about Trump reflected this view.

When she was asked during the interview "How dangerous is the rhetoric coming from President Trump [especially his comments about the Federal Reserve]?"

She responded, "We constantly emphasize the importance...of the independence of central banks."

It should be noted that Gopinath is a very serious up and comer amongst the establishment policy elite and is being pushed aggressively by top tier insiders. She holds a Ph.D. degree from Princeton University.

She is a member of the economic advisory panel of the Federal Reserve Bank of New York and was chosen as a Young Global Leader by the World Economic Forum in 2011.

Her doctoral advisor was Ben Bernanke.

-RW