It goes without saying that Donald Trump has made an absolute mockery of the process by which he’ll select the next Fed Chair.
It’s undoubtedly occurred to him that this is, perhaps now more than ever, an extremely important appointment. Whoever gets the job will be in charge of unwinding the greatest experiment in the history of monetary policy with consequences that no one understands because nothing like this has ever been attempted before.
The fate of the stock market rally and really, the fate of the global economy, rests on the extent to which that effort goes smoothly, something Trump at least loosely gets according to comments he made 13 months ago about Yellen’s role in creating a “false” market.
But rather than take this seriously, he’s turned it into an episode of The Apprentice. He’s teased the market over and over again and this week he took the absurdity up another notch by conducting a “straw poll” of Republicans to see who they preferred and even went so far as to literally ask Lou Dobbs to weigh in on national television.
Well now – and I can’t even believe I’m saying this – Donald Trump has made a commercial teasing his forthcoming decision.
And yes, I am serious. Here it is:
You know what they say about how reality (TV) is sometimes stranger than fiction…
I’m guessing the trading volume in the DT front running trading room were flaming ahead of that infomercial.
that is one sick son of a bitch
This is the first instance, public at least, that shows Trump soliciting the opinion and counsel of others in his decision process. So, no, I don’t see his Fed selection procedure as a mockery. His shameless public relations milking drama is another thing, however.
from day one, this whole president thing — just a TV show — take away his tweeter and he would be bored out out of his mind
Its starting to get dangerous. The problem is people do not trust the media anymore, and frankly rightly so. On the whole, media barons and their employees went too far selling their politics. They7 became a reality show along with trump since before i was born. They may be able to win back some trust, but not with me. Trumps was one of the most brilliant and sickening campaigns I have ever seen, and thats coming from a guy for whom his presidents took a third of his income from bussing tables to fight foreign wars which we lost.
“Jobs are coming in to the country so, go out. get one . . . and have fun.”
OMFG!
He refers to eight years, but Yellin has only been Head of Fed for four years
perhaps I misunderstood what he meant but I took his comment as a reference to his (upcoming) 8 years in office — I did not re-watch it after reading your post, I don’t think I can see it again without throwing up. But I certainly think he is ignorant and says stupid crap every day, so it is highly likely you got it right!