Trump has broken with decades of precedent by comm
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Posted On: 11/28/2018 9:35:08 AM
Re: wowhappens28 #16519
Trump has broken with decades of precedent by commenting on Fed policy with repeated attacks on the central bank’s rate increases. He has also recently blamed Mnuchin for recommending Powell for the job, two people familiar with the president’s thinking said.
And let's add GM to his ever growing 'blame list'. By now he must have replaced Truman's 'the buck stops here' desk sign with 'the buck passes here'. I like the double meaning.
Still, Mnuchin hasn’t been the target of any direct, public criticism from Trump and, despite reports he may leave the Treasury Department as part of a broader Cabinet shakeup, is likely to stay in the administration for now, according to people familiar with the plans.
On Monday, Trump told the Wall Street Journal that “the Fed right now is a much bigger problem than China,” which is locked in a trade war with the U.S. He also seemed to widen his criticism of the Fed to include its ongoing balance-sheet reduction. “I don’t like what they’re doing,” the president said. “I don’t like the $50 billion.”
Big deal. The guy who couldn't manage casinos profitably enough to stay out of bankruptcy, swindled people with his Trump U. and had to secure loans from the Russians because American lenders wouldn't touch him, 'doesn't like' what the Fed is doing.
I realize that he's neither an economist nor a scientist, but couldn't he at least stay at a Holiday Inn Express overnight from time to time?
And let's add GM to his ever growing 'blame list'. By now he must have replaced Truman's 'the buck stops here' desk sign with 'the buck passes here'. I like the double meaning.
Still, Mnuchin hasn’t been the target of any direct, public criticism from Trump and, despite reports he may leave the Treasury Department as part of a broader Cabinet shakeup, is likely to stay in the administration for now, according to people familiar with the plans.
On Monday, Trump told the Wall Street Journal that “the Fed right now is a much bigger problem than China,” which is locked in a trade war with the U.S. He also seemed to widen his criticism of the Fed to include its ongoing balance-sheet reduction. “I don’t like what they’re doing,” the president said. “I don’t like the $50 billion.”
Big deal. The guy who couldn't manage casinos profitably enough to stay out of bankruptcy, swindled people with his Trump U. and had to secure loans from the Russians because American lenders wouldn't touch him, 'doesn't like' what the Fed is doing.
I realize that he's neither an economist nor a scientist, but couldn't he at least stay at a Holiday Inn Express overnight from time to time?
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