White House Council of Economic Advisors Chairman Kevin Hassett on President Trump's Fed pick Herman Cain and the U.S.
"I'm going to come with the idea - challenge one fundamental idea that I think is endemic at the Fed, which I think is completely wrong, which is that growth causes inflation". There is precedent for a Fed knuckling under to a president, and it did not end well. -China trade war that is leading to slower expansion overseas. Powell was easily confirmed by the Senate, but Trump has told aides he regrets appointing Powell to the job because the Fed took several steps a year ago to raise interest rates and Trump has blamed this for slowing economic growth.
We'll now have to see if Trump follows up with another poorly qualified media figure, or lets Moore stand alone as a testament to his belief that talking on television is the only relevant qualification for any position, from president on down.More news: Multiple people shot outside Australian nightclub
Stephen Moore: "I don't really think I've said anything much about the gold - I'm not in favor of a gold standard".
Trump and Kudlow have both been critics of the Fed's policies under Powell, who Trump nominated for the top USA central banking job.More news: Singapore airport nature dome unveiled in fight for flights | #AsiaNewsNetwork
Powell caused the stock market to rally on November 28 when he added that he thought the Fed had taken rates to "just below" the so-called neutral rate of interest, which is a "Goldilocks" level that doesn't stimulate or contract growth. But its deliberations on how to steer the economy and interest rates have a nonpartisan cast.
"I just don't think of it", said Mary Daly, president of the San Francisco Fed, in an appearance last week on PBS NewsHour. "There's no inflation", Trump told reporters as he departed the White House for California on Friday. Those rate hikes that was criticized his team and by Trump.
"Allowing lower-interest borrowing to continue could keep the economy steady, bringing more people back to the labor market and potentially raising real wages even higher‚" wrote Jason Furman, former President Barack Obama's chief economist, in a recent Wall Street Journal op-ed.More news: Masters 2019: Tiger Woods involved in frightening collision with security guard
"Does that mean meddling in the decisions of the Fed?"