Last week, Federal Reserve Chair Janet Yellen was on Capitol Hill to speak about banking regulation and pointed out that the interest rates may rise this December for the first time since 2006.
Rep. Brad Sherman (D-CA) jokingly urged her against taking that action using the typical Congressional trump card: God.
… As I argued then back in the summer, God’s plan is not for things to rise in the autumn. As a matter of fact that’s why we call it fall. Nor is it God’s plan for things to rise in the winter, through the snow. God’s plan is that things rise in the spring. And so if you want to be good with the Almighty, you may want to delay until May.
The man in the foreground of that picture has the right reaction because the reason it’s called “fall” has nothing to do with monetary policy and members of Congress shouldn’t be making decisions based on what they think God’s Plan is.
While delaying an increase in interest rates may be better for the economy, if that was supposed to be a joke, it failed miserably.
Sherman, who’s Jewish, did some damage control later that day:
Don't actually think God has an opinion on monetary policy, but if She did, She would agree that the FOMC shouldn't increase rates in winter
— Brad Sherman (@BradSherman) November 4, 2015
But given how many people think he was serious, it probably says more about the sad state of our politics. This is the sort of thing you wouldn’t be surprised to hear coming out of a Republican’s mouth — only they would actually mean it.
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