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Trump slams Fed Chair Powell, says he's 'not even a little bit happy' with him

hank
edited November 2018 in Off-Topic
“So far, I’m not even a little bit happy with my selection of Jay,” the president said in the interview. “Not even a little bit. And I’m not blaming anybody, but I’m just telling you I think that the Fed is way off-base with what they’re doing.”
https://finance.yahoo.com/news/trump-slams-fed-chair-powell-says-hes-not-even-little-bit-happy-231044373.html

This is more than an inconsequential marital spat. Firing Powell would send reverberations through the markets at home and abroad. Best bet is that gold would soar. Stocks likely too. And, don’t count EMs out in such a scenario. Rate-sensitive bonds, however, might tank if the market smells out higher inflation.

Comments

  • catch22catch22
    Definition of Psychosis:

    Requires a medical diagnosis

    Possible symptoms include delusions, hallucinations, talking incoherently, and agitation. The person with the condition usually isn't aware of his or her behavior.
    People may experience:

    Behavioral: disorganized behavior, aggression, agitation, hostility, hyperactivity, hypervigilance, nonsense word repetition, repetitive movements, restlessness, self-harm, social isolation, lack of restraint, or persistent repetition of words or actions

    Cognitive: thought disorder, confusion, belief that an ordinary event has special and personal meaning, belief that thoughts aren't one's own, disorientation, memory loss, racing thoughts, slowness in activity, thoughts of suicide, unwanted thoughts, difficulty thinking and understanding, or false belief of superiority

    Mood: anger, anxiety, apathy, excitement, feeling detached from self, general discontent, limited range of emotions, loneliness, or nervousness

    Psychological: fear, hearing voices, depression, manic episode, paranoia, persecutory delusion, religious delusion, or visual hallucinations

    Speech: deficiency of speech, excessive wordiness, incoherent speech, or rapid and frenzied speaking

    Also common: nightmares or tactile hallucination
    Critical: consult a doctor for medical advice
    Sources: Mayo Clinic and others.
  • VintageFreakVintageFreak
    edited November 2018
    My 2 cents, the biggest problem we have is with people giving press to Trump. Perhaps we should stop doing the same here.

    We are expending a lot of energy every day continuously on him. Saying anything on MFO is not going to hamper his chances at re-election.
  • expatsp
    @VintageFreak, nope it won't hurt him, but it also won't help him, and though it also has nothing to do with mutual funds, it helps us blow off steam -- so we can be calmer investors, yes?

    I actually think he might be right on this one. Shoulda kept Yellen, but that would have required admitting that Obama did anything good.
  • MikeMMikeM
    edited November 2018
    I have no idea if Powell is doing a good job or a bad job. I don't believe it is the Federal Reserves job to prop up a long-in-the-tooth bull market as opposed to trying to control run-away 70's style inflation. That to me is more important than trying to delay the inevitable bear market pull back.

    Lets face it, Trump's complaining is totally instigated by the reality "his" economic policy is based on a very weak, propped-up foundation. If it collapses, what the hell is he going to hang his hat on for the next presidential election? His complaints, in my opinion, are nothing more than ego and "you are making me look bad" BS.
  • MarkMark
    True Mike but he doesn't need anyones help in the looking bad department. The guy understands nothing.
  • davidrmorandavidrmoran
    maybe others are saying this too, but seems to me yellen woulda done what powell has been doing, pretty exactly
  • hank
    edited November 2018
    VintageFreak said:

    My 2 cents, the biggest problem we have is with people giving press to Trump. We are expending a lot of energy every day continuously on him.

    @VintageFreak - You are currently visiting the “Off Topic” section of the board. By clicking on “Fund Discussions” you should be able to avoid Trump. Looks like @Ted has put up about 15 fund-related stories today alone.

    If if that doesn’t work, however; here’s an app you can download to your device which is supposed to block anything relating to Trump. https://www.forbes.com/sites/abigailtracy/2015/11/18/the-new-trump-trump-app-blocks-everything-related-to-the-donald-from-your-iphone/

    Hope one of those ideas works for you.
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