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Fed On Hold, But Out Of ‘Patience’. 8 Officials See Lower Rates In 2019
"We'll see what he does", Donald Trump said Tuesday, when asked about his embattled Fed chair, following reports that the White House counsel explored options for removing Jerome Powell in February, at the president's request.
During those same remarks to reporters, Trump explicitly tied Powell's future as Fed chair to Wednesday's FOMC decision.
Now, that decision is in the books. The Fed kept rates unchanged, but gone from the statement is the reference to "patience", replaced with a commitme
If nominal GDP grows less than 4% in the 2nd quarter that’s all she wrote. They will cut in July, only question is will it be 25 or 50bps
All I have to say is the US is lucky the EU and China can’t get their shit together cause they would be wholly fucked. Also, I bet Bullard is just vying for Trumps attention in case the chair becomes available.
Well, if Trump succeeded in removing Powell, I think the list of competent candidates who would want the job would shorten considerably.
POTUS aka Bully-In-Chief.
Patience is prudent. If Trump settled his trade war with China, the stock market would zoom. That’s all Trump really cares about-looking good before the 2020 election. Lower interest rates and/or QE on top of a zooming stock market doesn’t sound prudent to me.