An economist at the Federal Reserve reportedly said that the U.S. Central Bank worked against former President Donald Trump and is prepared to do so again.
Aurel Hizmo, a principal economist at the Federal Reserve, was reportedly caught on a hidden camera sting by a self-proclaimed guerilla journalist from James O’Keefe’s O’Keefe Media Group (OMG). An OMG “swiper” interviewed Hizmo across several pseudo-dates that the swiper went on with the Fed economist.
Over the course of the dates, Hizmo said he believes Trump is “a crazy person” that the Fed needs to keep in check when he “messes up.” Hizmo also suggested that Fed chairman Jerome Powell hates the former president and wants to be remembered as someone who “held the line” against Trump.
“Trump is just a crazy person,” Hizmo told his date. “It’s very clear. I mean, he’s a dumb guy.”
Trump and Powell hated each other, according to Hizmo. On the other hand, Powell has a good relationship with President Joe Biden and his administration, he said.
Hizmo stated that Powell is motivated by a desire to preserve his legacy “as a savior.”
“[Powell] is doing it for the legacy. He wants to be remembered in history … as somebody who held the line against, like, Trump and helped the economy out of COVID,” Hizmo said on hidden camera. “There’s all kinds of stuff that comes to his desk that he says, ‘No, because this is going to jeopardize the legacy of the Fed or my legacy as chair.’”
Trump nominated Powell to lead the Federal Reserve in 2017. Hizmo suggested that Powell used his authority as the chairman of the U.S. Central Bank to curb Trump’s deregulatory agenda. Hizmo suggested to his date that Powell and the Federal Reserve are willing to act again should Trump win the White House in 2024.
“So the feeling is this: we don’t want Trump to be in the government, but if he comes, we’re still going to try to the best we can for the country,” Hizmo said to his date. “Now, if he messes up, if he does something stupid, then we have to fix it.”
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Hizmo explained: “So, he, like, removed a lot of regulations and stripped that, and made that entity really weak … so now the Fed has to be like oh we have to kind of, like, do something more to regulate …”
The Fed economist went on to say that Powell generally has a good relationship with Democrats because Powell is “responsive.”
“Like under Powell, the Fed has changed to think about equity issues, like racial issues, think about wealth inequality as part of the mandate, as part of the things we are following, think about climate change,” Hizmo said in the OMG undercover video.
BREAKING, INSIDE THE FEDERAL RESERVE: Hidden Camera captures Principal Economist @federalreserve talking about Jerome Powell’s legacy as “somebody who held the line against like, Trump.” The influential agency responsible for maintaining a stable monetary system appears to not… pic.twitter.com/5CqZX2LhwT
— James O'Keefe (@JamesOKeefeIII) April 10, 2024