What’s disturbing is that if Trump gets election, he’ll try to dispose of Powell and find a fed reserve chair that’s going to reinstitute the loose monetary policy that marked his regime. He would be the WORST president to have right now
A stroll down memory lane:
- President wants wants to fire Federal Reserve Chairman Powell for raising interest rates
- Powell and the Fed this week raised interest rates for a fourth time this year, helping to send the Dow to its worst week since the financial crisis.
- “I think the Fed is making a mistake. They are so tight. I think the Fed has gone crazy,” the president said. The independence of the Fed is one of the pillars of confidence global investors have in the U.S. financial system. Powell’s removal would undermine that confidence because it would now seem the most important central bank was now under the control of a politician, who may not always have the best interests of the economy at heart
President Trump has discussed firing Federal Reserve Chairman Jerome Powell, Bloomberg News reported.
www.cnbc.com