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Trump Leaning Towards Powell For Fed Chair: Politico
Well, this shouldn't come as a surprise but Donald Trump is reportedly leaning towards Jerome Powell
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Did not kiss Trump’s loyalty ring – no check mark. Did not sign the secret loyalty oath contract – no check mark. Off with her (as) head – of the FED.
Trump is “leaning…” or twirling or maybe prognosticating…He is, instead, doing what he always does…drawing attention to himself and his convoluted and ever mercurial decision making process.
Don’t count out Warsh…Trump knows the family and he always falls back onto what is comfortable.
In the next few months Donald will try and fathom who is least likely to betray his vision for the economy…which is to say..Who will do his rep and his holdings the most good? Who knows..he might even choke to death on a Turkey bone while eating and explaining how he invented Thanksgiving and came up with the idea of roasting them for the joyous occasion.
But Warsh is likely to “betray [Trump’s] vision for the economy”… the low-interest, negative-real-rates economy that trump likes. As well as an end to “the President’s beloved stock market rally.” In the words of Jim Grant a year ago, Trump will come to “love the bubble market”. Indeed.
Warsh has about as much chance of Fed Chair as PBOC Governor Zhou. Both of whom speak too candidly about reality that American’s don’t want to face. Ironic given America is now led by a reality TV host… lol.
The powell story is bad news and depressing. Please not another Wall Street crony in the pocket of the financial elites and on-call from the White House.
Ppl instead deserve a genuine independent outsider in the Fed Chair this time… how about Marc Faber! 😀