Scary News

   In another Friday night news dump, the Department of Commerce announced 20 sets of regulations that the president should cut as a way of "removing roadblocks to American job creation."
   This on the same day that another government agency, the Labor Department, said the unemployment rate dropped yet again, to 4.2 percent. To economists, this means that nearly everyone who wants a job has been able to find one. The report also noted that total employment faded by 33,000 jobs last month, largely due to hurricanes that roared through Florida, Texas and neighboring states.
   The total number of unemployed persons actually fell by 331,000 last month, to 6.8 million, out of a total civilian labor force of 161.15 million.   
   Separately, the president claimed that proposed tax cuts will provide "rocket fuel for our economy."
   However, experts have long warned that a faster rise means a harder fall in a nation's economy, and this philosophy has guided the strategy of the Federal Reserve Board as it modulates the nation's money supply to stabilize unemployment and inflation.
  Economic experts have also cautioned that the president's recent appointment of Randal Quarles, a conservative, as the Fed's vice chairman for supervision is another step in his campaign to ease government regulation of business.
   And come February, the president will have another opportunity to roll back the Fed's outlook and strategy, when Janet Yellen's term as chair ends. Even if he does not renominate her as chair, she will remain as member of the board of governors.
   Meanwhile, the board of governors is still three short of its full complement of seven members. This gives the president still more opportunities to bend the regulatory body's attitudes to his hands-off philosophy of business and financial markets.
   The nation's economy has been steadily improving for the past seven years under the guidance and influence of the current Fed board of governors. Whether removing a plethora of government regulations, enabling the economy to hit "rocketing" growth, is a safe and sane strategy, is another question, one which economists insist is too dangerous to attempt.