The Fed: The history of presidential Fed-bashing suggests it has not been a fruitful strategy

Everett Collection
President Lyndon Johnson and Vice President Hubert Humphrey at a barbecue victory celebration at the LBJ ranch in November 1964.

When talking about presidents using the Federal Reserve as a punching bag, it is always useful to start at the career of former Fed Chairman William McChesney Martin, who was nearly literally turned into a punching bag by President Lyndon Johnson.

The issue has come back to the fore with President Donald Trump’s barrage of criticism for the Federal Reserve and its chairman, Jerome Powell.

Read:Trump calls Fed ‘too cute’ in third straight day of criticism

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