President Donald Trump launched another barrage of criticism at the Federal Reserve, saying Saturday that the central bank is behind its global peers in the economic fight against the coronavirus. “I’m not happy with the Fed because I think they’re following not leading, and we should be leading,” the president said during a news conference to discuss the COVID-19 outbreak and the ongoing U.S. response. Since the disease’s spread has intensified, the U.S. central bank has enacted an emergency interest rate of 50 basis points, opened up a liquidity program to the bank to add up to $1.5 trillion to the financial system and started buying government debt across the yield curve. Trump said he is not yet looking at removing Jerome Powell as chairman, though he believes he has the right to do so. He has harshly criticized Powell previously, saying the Fed should be more aggressive in easing the stance of monetary policy. “I have the right to remove him. No, I’m not doing that,” Trump said. “I also have the right to put him in a regular position and put someone else in charge, and I haven’t made any decisions on that.” https://www.cnbc.com/2020/03/14/tru...d-chair-but-hasnt-made-any-decisions-yet.html
Well! That will certainly lend calm and stability to the financial markets. Stable Genius strikes again......
idiots... only 3 possible outcomes here, non is bad. - powell does nothing, status quo -powell feels the pressure and cuts deeper; - powell gets replaced with a dove.
Blah blah blah blah. Wasn't he supposed to have removed yellen??? Yep. And what a great time to remove a fed chairman.... Talk about uncertainty and we all know wallstreet hates uncertainty.
But hey it'll likely spike the VIX > 80 and volatility will give us even better trading opportunities... C'mon TVIX UVXY VXX Gotta love wild markets, so much better than slow chop. It's like being at a nightclub with lots of supermodels lol
Chumpie is just ittttching to pull the trigger. After all he has had what 6 (?) chiefs of staff and an equal amount of Fatherland Homeland Security heads. And "many, many" Communication Directors, although latest one hides 24x7 in White House basement so maybe she doesn't count.
Congress wrote into the law that its governors, once confirmed by the Senate and appointed by the president, cannot be removed except “for cause,” like personal misconduct. https://www.nytimes.com/2019/06/20/us/politics/trump-fed-chairman-powell.html