Roger Stone, the conservative firebrand, is taking aim at Jerome Powell and the Federal Reserve.
"I've seen this movie before. The Fed did everything they could to slow down the economy when Richard Nixon was in political trouble, to create the backdrop for impeachment, and they did," Stone said, drawing from his early career under Nixon. "That's exactly what this is about. I don't see the economy as overheated. I don't think there's any need for the Federal Reserve to ratchet up interest rates other than to try to crash the economy, which is Donald Trump's largest single strong suit of political support."
He supposed that Fed action to derail a main positive point of the Trump presidency is a political action from Powell.
Stone's comments coincide with President Trump's meeting with Jerome Powell ahead of his hotly anticipated comments at his State of the Union address on Tuesday evening and serve to contradict Stone's stated narrative.
"At the President's invitation, Chair Powell and Vice Chair Clarida joined the President and the Treasury Secretary for an informal dinner tonight in the White House residence, to discuss recent economic developments and the outlook for growth, employment and inflation," a Fed press release states. "Chair Powell's comments in this setting were consistent with his remarks at his press conference of last week."
The releases added that the Fed chair did not discuss monetary policy, "except to stress that the path of policy will depend entirely on incoming economic information and what that means for the outlook" and clarified that any action is non-political.
Comments from President Trump on his meeting with Jerome Powell will certainly be much anticipated after such antagonistic comments from a former trusted advisor.