" « Speaking at the premiere for “Melania,” the film about first lady Melania Trump, the president said the five-month odyssey of finding his pick to succeed current Chair Jerome Powell is about to end.
“I’ll be announcing the Fed chair tomorrow morning,” Trump said. Asked if he had actually settled on a choice, he replied, “I do, I better, otherwise I have to go to work very quickly.” "
Source: aerothony
10 Comments
America is a banana republic
My guess
Is the federal reserve really independent when their chairman can be fired by the president?
If federal independence is called into question, then the US dollar is called into question. If Powell is fired, this indicates political motivated monetary policy and means hyper inflation is on the table. How this affects bonds, precious metals and the stock market will largely be volatile.
Falling confidence in the usd is great for precious metals. Not so good for us bonds. And who’s knows how stocks markets around the world move.
I haven’t historically been a fan of Jerome Powell, but I am thinking I will absolutely hate Trump’s new nominee, especially if it is convicted felon Martin Shkreli. Do you all think that J Powell can act as a check if he remains on the Board of Governors of the Fed since he and Trump are always at such odds?
So long as the person can operate a printing press, that is what ~~Erdogen~~ Trump is looking for.
Barren Chump
Any bet on re-nominating J-Powell?
So what you are saying is that gold is going to hit $7000 tomorrow. Thanks for the tip.
TACO Tuesday incoming
You should be more concerned with screwmores new shutdown. He wants to use Snap and other programs to support illegals and insurance companies. Forget you and yours.