McRocket
Gold Member
- Apr 4, 2018
- 5,031
- 707
- 275
- Banned
- #1
'Before any Fed officials get the idea that Friday's stronger-than-expected headline jobs number (which, as we pointed out, actually masked signs of pervasive weakness in employment in wage growth) might justify raising interest rates again in the not-too-distant future, President Trump slammed the central bank during comments to a group of reporters in Washington.
Instead of sticking with its "pause", Trump said the central bank should instead "drop" interest rates, something that markets have already priced in, adding that the central bank has "really slowed" the American economy.
Setting aside the cognitive dissonance between these comments and Trump's repeated claims that the US economy is doing "really, really well" and that companies are preparing to announce that they're "coming back" to the US...
...Trump's comments show that he won't let up the pressure on Jerome Powell after reportedly trying to replace him with Kevin Warsh, and declaring Powell one of the worst hires of his administration.
"I personally think the Fed should drop rates, I think they really slowed us down, there's no inflation, in terms of quantitative tightening, it should really be quantitative easing...you would see a rocket ship. Despite that, we're doing very well."'
Yields, Dollar Slide As Trump Calls For QE4
So...let me get this straight?
Trump says this is the best economy ever? Yet now he is calling for more QE...which the Fed brought out years ago in desperation to shore up the stock market/economy?
So which is it?
You CANNOT have a fantastic economy AND need QE at the same time...makes no sense.
Instead of sticking with its "pause", Trump said the central bank should instead "drop" interest rates, something that markets have already priced in, adding that the central bank has "really slowed" the American economy.
Setting aside the cognitive dissonance between these comments and Trump's repeated claims that the US economy is doing "really, really well" and that companies are preparing to announce that they're "coming back" to the US...
...Trump's comments show that he won't let up the pressure on Jerome Powell after reportedly trying to replace him with Kevin Warsh, and declaring Powell one of the worst hires of his administration.
"I personally think the Fed should drop rates, I think they really slowed us down, there's no inflation, in terms of quantitative tightening, it should really be quantitative easing...you would see a rocket ship. Despite that, we're doing very well."'
Yields, Dollar Slide As Trump Calls For QE4
So...let me get this straight?
Trump says this is the best economy ever? Yet now he is calling for more QE...which the Fed brought out years ago in desperation to shore up the stock market/economy?
So which is it?
You CANNOT have a fantastic economy AND need QE at the same time...makes no sense.