Jim Newton

Itasca

When a coronavirus type event is eventually resolved, health and government officials review their notes to see how we can do better next time. I’m not sure that happened after COVID part I. The coronavirus aftermath would have been an opportune time to review the “checks and balances” theory, too. The White House could use a refresher, especially on the function and idea behind independent departments like the Federal Reserve and National Institute of Allergy and Infectious Diseases.

President Trump has criticized Fed Chairman Jerome Powell, but he has company. President Reagan wanted to keep then-Fed Chairman Paul Volcker from raising interest rates, and President H.W. Bush blamed Alan Greenspan for his 1992 presidential election loss. Federal Reserve and presidential discord dates back to Herbert Hoover.

Technically, checks and balances refer to each of the three governmental branches keeping power balanced between them.

Why can’t we better exercise that same principle between the White House and supposedly independent entities like the Federal Reserve and NIAID? A stricter adherence to this principle might have eliminated confusion over the pandemic ending on its own, or that the American economy would be “Rockin'” by July 2020 as predicted by Trump in-law Jared Kushner.

President Trump tried unsuccessfully to embarrass Powell over the Federal Reserve Building renovation project cost overruns. It might be wishful thinking, but more disciplined discourse between executive and independent departments might discourage future grandstanding.

Paul Volcker wasn’t intimidated by incumbent Republican leadership. Jerome Powell and Health officials shouldn’t have to be either.