Last week, Herman Cain, a former pizza chain executive whom Trump also wanted to place on the Fed’s seven-member board, bowed out amid concerns he could not be confirmed.his confirmation may also be in question
Powell and his colleagues last year stepped up interest rate increases to guard against the risks of rising inflation amid strong economic growth and a tight labor market. They also wanted to lift interest rates back up to a level closer to 3% or a bit higher, to give them greater latitude to lower rates and stimulate borrowing and investment in the event of a recession.
Presidents have rarely made public criticisms of the Fed. But impolitic as Trump’s comments have been, economists say that his views are simply off base because there’s little economic justification for demanding lower rates and additional stimulus. “We have the potential to go up like a rocket if we did some lowering of rates, like one point, and some quantitative easing,” Trump tweeted Tuesday, using the Fed term for the crisis-era bond-buying stimulus. “Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!”
Who Paul Krugman. Hah ha ha ha haha.
If it’s the wrong thing to do he’s all in
I thought the economy was fucking great because that's what we've been told?!!?