Christopher Wray was appointed by Trump as Director of the FBI and now Trump never misses an opportunity to bash Wray. In his first term Trump negotiated the USMCA which he praised as one of the greatest trade deals in history. Less than a month into his second term Trump tore it up.
He probably couldn't if he wanted to, and I'm not sure why he would want the fight. Powell's term is up next May, so Trump can appoint his preferred sycophant next year in time to crater rates, weaken the dollar, and boost the economy before the mid terms.
The man’s idiocy is truly a sight to behold Trump says he was surprised that Jerome Powell, the Fed chair he appointed, was appointed
I was going to post just that. He has onset dementia, I just watched my highly intelligent mother go down this road. He started to lower interest rates last year, near the end. Not as fast or as much as we had hoped for, but we didn't accuse him of playing politics for the man that appointed him. If Kamala had been elected, we would have seen more cuts. trump has provided an uncertain market, so he understandably has been cautious.
typically the argument is that the optimal rate from a GDP (not inf) perspective depends on the gap between current GDP & potential GDP. If there is a sizable gap, a rate cut can boost GDP. However, with UE at 4.1%, that gap is quite small. That is, labor is a bottleneck that has shrunk the gap & hence, a rate cut probably will not juice the economy as much as 1 might think. All rate cuts are not equal b/c the economic context matters. As I've pointed out before, my preferred model of the optimal rate, calls for a small rate increase.
Powell is an abject failure... SWAP CREATURE. He and his printing press caused the inflation when Biden was clowning around the White House.
As per usual, this is 100% wrong. Try to remember there was a world-wide pandemic that ruined supply chains. The USA (Powell-Biden) fared much , much better than ANY other developed economy in the world. Not only that but Powell pulled off the almost unheard of "soft-landing".
Funniest thing I've seen in awhile. Accomplished dude has no time for Trump's bullshit. I wish more people would just call him out on his bullshit to his face.
Absolutely! While about 90% of the stuff he did during covid was his typical crap, to his credit he got some regulations out of the way to advance a vaccine.
