President Trump has made it clear he isn’t happy with the Federal Reserve. Blessed with the strongest economy in decades, Fed leaders are single-handedly taking it upon themselves to cause a recession, and it’s hard not to suspect that they’re playing politics.
Last week, reports began circulating that Trump was considering firing Fed chairman Jerome Powell. While it appears that Trump isn’t willing to take that step yet, he made a strong move towards reigning in the Fed on Monday.
The Wall Street Journal reports:
President Trump criticized the Federal Reserve Monday, calling the central bank the “only problem our economy has” and likening its policies to a golfer who can’t putt.
“The only problem our economy has is the Fed,” Mr. Trump said as a stock-market selloff continued on Monday. “They don’t have a feel for the Market, they don’t understand necessary Trade Wars or Strong Dollars or even Democrat Shutdowns over Borders. The Fed is like a powerful golfer who can’t score because he has no touch – he can’t putt!”
Trump won’t end up firing Powell because he won’t have too; using the bully pulpit of the presidency to warn the Fed is already bearing fruit, with the Fed expected to cool any further talk on rate hikes in 2019.
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