Breitbart News economics editor John Carney said Friday on Fox Business Network’s “Kudlow” that over 90% of the Federal Reserve employee political donations go to Democrats.
Host Larry Kudlow said, “You write this, I didn’t know this, 91% of the Federal Reserve donations go to Democrats . That is outrageous, but you’re telling me this is recent.”
Carney said, “Right, so in this election cycle 91% going to the Democrats. So it was literally 11 to 1 is another way of thinking about it, dollars that went to Democrats compared to Republicans. It was like that in 2020 as well, but earlier election cycles it was much more balanced and much lower. The Fed officials were not highly politicized back in 2012, 2008, 2004. You look at the numbers, they’re tiny, and the Republicans and Democrats are relatively evenly matched, and in some years, the Republicans even got more. It’s now gone extreme. I don’t know if this is because of a change in personnel at the Fed. I suspect that it does have something to do with that. They have really tried to change the personnel at the Fed. They’re no longer just the kind of paper pushers. They brought in a lot of ideologues with a lot of, you know, ESG, DEI ideologues.”
Kudlow said, “And therefore I ask, why should we believe the Fed? That’s all. Why should we believe the numbers? Why should we believe the forecast, which have been so badly wrong? Why should we believe the models? When you look at 91% donations to Democrats in this cycle you got to ask yourself what kind of credibility they have that’s as corrupt as some of these other agencies that we’ve been talking about.”
Carney said, “This is terrible. It really compromises the Fed’s credibility as a nonpartisan, independent organization. They are right now a wing of the Democratic Party. They are funding the Democratic Party. Jerome Powell should treat this as an emergency. I wrote this article. He should right now be asking his people, how is it that we have no Republicans, no Trump people on our staff. You guys are either keeping them out, or somehow we’ve corrupted the water with Trump derangement syndrome and we all lost our minds.”
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