There's a rumor about the Fed doing the rounds

Author: Adam Button | Category: News

I've gotta question the credibility of this

There's an article in a publication called The Spectator (spectator.us) that's getting some attention.

I've never heard of it and I doubt its credibility but it could have something to do with these wild moves in markets. The report says Powell "has banned any public appearances by any member of the Fed".
"Powell believes that the Fed, which cut interest rates by a quarter point at the end of last month, has very little left in its armory and that even a cut in interest rates would do nothing to combat growing international economic pressures. Powell has become increasingly concerned at Trump's criticisms, which he believes shows he has little understanding of the economy or the Fed's role.

This rocky relationship between the independent Fed and a president who believes that he should personally control all aspects of government is without precedent. Powell is determined to do or allow to be said nothing that could further fuel the struggle between an independent Fed and a controlling president."

What makes this especially hard to believe is that Bullard is going to be on Fox Business in 35 minutes at 3:05 pm ET. Jackson Hole is next week and muzzling Fed officials there would be beyond bizarre.

The article is here.

Even if the article is true, I don't know what I would do with it.

I've gotta question the credibility of this
Update: The guy has updated his 'source' now that he's seen Bullard's comments.
BullardNow someone tell him that Bullard has a vote. 


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