Donald Trump has seized on an insane new conspiracy theory

Fed chair Janet Yellen is trying to swing the election by — get this — helping the economy. Truly diabolical!

Gather 'round for another tall Trump tale.
(Image credit: REUTERS/Mike Segar)

In August of 2011, Texas Gov. Rick Perry (R), who had just entered the presidential race and would soon rocket to the front of the polls on his winning combination of retrograde views and spectacular hair, told a group of Iowa voters that there were nefarious economic doings afoot down in Washington. Federal Reserve chairman Ben Bernanke, he explained, was enacting the policy of "quantitative easing" — injecting large amounts of money into the economy — in an attempt to keep interest rates low and give Barack Obama a boost. "If this guy prints more money between now and the election, I don't know what y'all would do to him in Iowa, but we would treat him pretty ugly down in Texas," Perry said. "Printing more money to play politics at this particular time in American history is almost treacherous — or treasonous in my opinion."

Bernanke (who had been appointed by George W. Bush, by the way) was never tried for treason, and Perry's presidential bid soon foundered. But five years later, Donald Trump has decided to spread the same inane conspiracy theory: that the Fed chair, now Janet Yellen, is trying to swing the election by — get this — helping the economy. Truly diabolical.

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Paul Waldman

Paul Waldman is a senior writer with The American Prospect magazine and a blogger for The Washington Post. His writing has appeared in dozens of newspapers, magazines, and web sites, and he is the author or co-author of four books on media and politics.