June 26, 2019

Trump abuses Fed Chair Powell

Maybe abuse is a little harsh, but he certainly criticizes Fed Chair Jerome Powell.  His criticisms are valid - without the aggressive rate hikes GDP certainly would have hit 4% and possibly even stretched to 5% for 2018.  And the stock market would have definitely responded with more strength than it has shown.  The fact that they are considering a rate cut only proves it.

Conversely, without the rate hikes we may have seen inflation but the preemptive nature of  the rate hikes was definitely too aggressive.  The president's criticisms of Powell while perhaps a bit strong, are not at all unfair.

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