Donald Trump wants to unchain the financial sector to flood lending into the economy. Will it boost growth? Or will it boost inflation?
The Wall Street Journal recently summed up Trump’s plans to eliminate overlap, duplication, and regulations that shut out competitors and reduce lending. Specific things he wants to get rid of include the Consumer Financial Protection Bureau, which tech pioneer Marc Andreessen characterized as “terrorizing financial institutions” with nuisance attacks.
Elon Musk also wants to get rid of CFPB, not least because it hampers the entry of his social media platform, X, into payments. The CFPB has been a lightning rod ever since Sen. Elizabeth Warren, D-Mass., created it, both for its lefty jihads and because it’s structured to be independent of oversight—meaning independent of voters.
Beyond the Consumer Financial Protection…
