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Trump Said To Be Slowly Losing Mind Over Inability To Weaken King Dollar
Donald Trump is treading dangerously close to formal dollar intervention and no one is quite sure what the implications would be.
That's the general message from a Bloomberg piece dated Wednesday. According to Saleha Mohsin and Jennifer Jacobs, the president brought up the dollar in interviews with his latest Fed picks Chris Waller and Judy Shelton, both of whom are expected to support lower rates, despite making for a rather odd couple otherwise.
Specifically, Trump is said to have fretted to
Why isn’t Rick Santelli ranting and raving about “the debasement of the dollar” as he did back in 2008-2009?
he was ranting and raving about it with Judy Shelton last week, which, hilariously, underscores the absurdity of her nomination. she’s advocating for a gold standard and the protection of purchasing power at the same time as she’s arguing for rate cuts with the unemployment rate at a five-decade nadir.
She apparently has no shame. Is she a Lindsey Graham protege?
If Trump appoints some idiots to the Fed and succeeds in getting one of them as chairman, how hard is it going to be to for the next president to get them out of there and restore the Fed to where it should be??
You’d think.
On the other hand, the only person in this administration who has some semblance of shame and self-respect left is Steven Mnuchin.
And that’s saying something.