‘Im Not Thrilled’: Trump Goes There, Says He’s ‘Not Happy’ With Jerome Powell’s Rate Hikes

‘Im Not Thrilled’: Trump Goes There, Says He’s ‘Not Happy’ With Jerome Powell’s Rate Hikes

Time and time again over the past year, I've variously suggested that Donald Trump would end up looking to effectively commandeer the Fed in the event rising rates began to threaten his cherished equity rally or otherwise seemed poised to slow down the economy. When Barack Obama was President, Trump called the stock market a figment of Janet Yellen’s imagination — a manifestation of her desire to “do political things”. A couple of days after he lambasted Yellen's purported politicizing
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4 thoughts on “‘Im Not Thrilled’: Trump Goes There, Says He’s ‘Not Happy’ With Jerome Powell’s Rate Hikes

  1. You noted a few weeks back also that you await the day when Dennison starts tripping on the Fed in the blame game. I think this is the first step. I also believe it is the beginning of the end of the bubble. Wild prediction, I know. And I may go bust following my hunch. But I feel it in my bones,I think its downhill from here for markets. Note also, here he is trying to manipulate currency in response to his perception that Xi is doing that in response to his trade war games.

  2. H, one thing we can definitively say is that he created this mess himself. Fiscal stimulus and tax cuts at this stage???, and he wonders why the Fed has to hike rates more aggressively. Hearing the incoherent interview tells me he knows nothing about fundamental macroeconomics.

    I was just wondering the exact same thing last week:
    The market has been flat for 6 months now, and I wondered how long it would be before Trump would publicly snap and lash out at the Fed. What a phony. I’ve said this many times, he and his cronies are driven solely by their pocketbooks and a MAGA that is ultimately tied to equity appreciation. Fiscal stimulus, tax cuts….MAGA???

    Corporations are using the funds to buyback shares. Little wage increases. How does this help the average Joe?

    Didn’t Larry Kudlow lament rising rates a few weeks ago? Can you imagine what they were and are saying about the Fed behind closed doors?

    Trump should be thankful that domestic inflation is relatively tame. If it flared there would be no recourse for him whatsoever to badger a Fed’s aggressive interest rate escalation.

    It’s very telling. Once again Trump is showing his true colors. Complete lack of integrity. His actions are driven by personal greed.

    So the Fed is supposed to be truly autonomous. Let’s see how that side of things works out with a flat equity market and midterm elections around the corner. Politics as usual.

  3. Trump is desperate to keep markets propped up until after the midterms so republicans will still hold the majority in congress and he can’t be impeached.

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