Powell looks like "he is happy raising interest rates"
In case you missed it, Pres Trump in an interview with the WSJ continued his criticism on the Fed Chair Powell saying it looks like he is happy raising interest rates. Although in the interview Pres. Tromp acknowledged the independence of the Fed, he also was clear in his criticism. He added that although it is true early to say, maybe he regrets nominating Powell. He called the biggest risk to the economy the Fed
Other thoughts:
- he said he preferred to take the savings from lower interest rates to pay down the debt
- Powell was supposed to be a low interest rate guy. It's turned out he's not.
- Interest rates are being race to quickly
- He called the tariffs a negotiating tactic
- He described the tariffs on steel and aluminum as being small
- Businesses that underperform will blame tariffs for their incompetence
- He couldn't have renegotiated NAFTA without the tariffs in place
- In addition to his criticism, he lamented that Obama enjoyed 0% rates during his term.
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Powell does seem happy (and smug) in this picture.... The Pres. seems to be a good judge of character.
