It’s just like in the movie Brokebank Mountin’ (debts).
He just can’t a quit him.
‘I Guess I’m Stuck With You’
Melania goes to bed every night with that phrase ringing in her ears.“I guess I’m stuck with you” – the oranges of Trump’s future excuse-making when the economy tanks.
Its all fun and games… until monetary policy becomes politicized.
Forget investigations and impeachment - the economy is the only thing that will convince the GOP to budge on Trump. And manipulating monetary policy… is not wise.
tRump can’t fire him, so why did Powell cave in to him?
~snicker~
and a little more distant but still…
Perhaps thought it might alleviate the public verbal abuse?
(Great way to determine monetary policy - by threat and verbal abuse… smh)
I would have thought a Fed Chair would have thicker skin.
In this instance, giving the economic uncertainty brewing, I honestly don’t get the sense that Powell “buckled under pressure.” I think the Fed was responding to data.
Sickens me to say it, but Trump gets that better than this article. That’s why he still hates the guy. Please don’t give Trump the strong-man cred he so desperately craves.
Gosh, what leadership, what poise. You can really see why White House staff turnover is at an all-time low. Lower than under any president ever in the history of the universe.
Trump has verbally pistol-whipped Powell three times last week, blaming him for the rising deficit and falling stocks.
Now where the hell did my lower jaw get to? It dropped all the way under the table …
*I guess I’m still Stuck with you?"
Who said that ? Both ?
Tax cuts for the wealthy did not cause the deficit to rise dramatically?
Let’s be perfectly accurate here. The Fed has not stopped shrinking its portfolio. Now most have no idea what it means but it is the most important thing it has done. The shrinkage began in Q4 17. It reached $50bn a month and will be that this month. Then it will shrink only $35bn in May. Ending only after September.
This is not some technicality. It is a big deal. It’s the reason, probably, that Trump is pissed. I say probably because it’s hard to determine if he understands the significance of the Feds balance sheet. On any technical basis but by the seat of his pants he does.
That isn’t even the half of it. Trump wants the Fed to ‘print’. To expand its balance sheet. Do more QE. He is bitter that Obama got it and he wants it. He needs it too. The budget deficit is spinning out of control and the Fed taking a few more Trillion of Treasury paper would do great things to keep the financial markets liquid.
Please please please TPM do not spout this nonsense about the Fed having stopped shrinking it’s balance sheet. It will stop in Q4 and that is significant but work to be technically correct. There is no room for such sloppy reporting. No matter every mainstream outlet in the world does. It’s lazy and stupid. If Ms Riga doesn’t know the current actions by the Fed with it’s balance sheet best find someone who does.
I was a little suspicious about the asset reference. Thanks for clearing that up.
On the front page I see that Josh had “a few requests” so he is busy explaining Brexit with a below the fold exposition. He may need some of his assistants for fact gathering since he is “no expert on the topic”. What a world!
Exactly what real journalists do as few are “experts” on everything.
Yes, but unfortunately, too many in the public, and the media, regard monetary policy as dry, boring, and not “sexy” enough to concern themselves with. Or they feel it is only of interest to the financial elite.
And as noted upthread, the Fed’s recent decision to halt interest rates was based on evidence of a slowing economy, not in response to Trump’s fulminations and brow-beating.
" Fed’s recent decision to halt interest rates"
This statement, one can find everywhere, is part nonsense part BS. Specifically the word "rates’, plural. The Fed sets a target for one market interest rate. The Fed Funds rate. Except the Fed Funds market is a fake market. It is 90% smaller now than it was pre crisis. The Fed Funds rate effects nothing. It’s a Potemkin Market.
The Fed does not set rates, plural. It strongly influences them. Not so much with policy but with words.
Here is the real short term interest rate.