. . .
In reality, of course, Kelly has neither admitted error nor apologized. Instead, the White House declared that it’s unpatriotic to criticize generals — which, aside from being a deeply un-American position, is ludicrous given the many times Donald Trump has done just that.
But we are living in the age of Trumpal infallibility: We are ruled by men who never admit error, never apologize and, crucially, never learn from their mistakes. Needless to say, men who think admitting error makes you look weak just keep making bigger mistakes; delusions of infallibility eventually lead to disaster, and one can only hope that the disasters ahead don’t bring catastrophe for all of us.
Which brings me to the subject of the Federal Reserve. What?
The truth is that what I’m calling Trumpal infallibility — the insistence on clinging to false ideas and refuted claims, no matter what — is a disease that infested the modern Republican Party long before Trump. And one of the areas where the symptoms are especially severe is monetary policy.
