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Thread: trump to Fed Chairman Powell: ‘I Guess I’m Stuck With You’

  1. #1
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    trump to Fed Chairman Powell: ‘I Guess I’m Stuck With You’

    When it's good news it's trump's---when it isn't so good it is someone else's fault.

    From today's WSJ:

    By Nick Timiraos and
    Alex Leary
    Updated April 2, 2019 5:04 p.m. ET

    WASHINGTON—President Trump is blaming the Federal Reserve for holding back the economy and stock market despite the central bank’s recent decision to do two things he wanted—halt rate increases and stop shrinking its asset portfolio.

    The president blasted the Fed and Chairman Jerome Powell at three meetings in the past week alone, telling Republican senators, supporters and staffers that if it wasn’t for the central bank’s past rate increases, economic output and stocks would be higher and the U.S. budget deficit would be rising less.

    “He was pretty rough,” said one person who directly heard the comments at one of the meetings. Mr. Trump also blamed Treasury Secretary Steven Mnuchin for recommending Mr. Powell for the top Fed job. “Mnuchin gave me this guy,” Mr. Trump said.

    Mr. Trump recalled a recent phone conversation he had with Mr. Powell, this person said. “I guess I’m stuck with you,” the president recalled telling Mr. Powell. The Fed chief took a brief phone call from Mr. Trump on March 8, a Fed spokeswoman said when asked about the conversation, declining to elaborate further. The phone conversation hasn’t previously been reported.

    The president continued to gripe about Mr. Powell during a policy briefing with staffers on an unrelated matter at the White House on Monday, according to an administration official. This person described Mr. Trump’s drumbeat of unprompted and critical Fed commentary as the latest point on a recurring list, or “greatest hits,” that Mr. Trump likes to raise.
    The article goes on from there---but by now you can fill in the blanks.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  2. #2
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    Well don't they have meetings for a little give and take. Its a bit over my head but things are going well for most of us.
    Old redneck hillbilly borned and raised on a redwood stump.

  3. #3
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    My financial position is that the economy is doing well IN SPITE of trump's actions on it. And, I also predict that Trump's actions will push our economy into a recession.

    Hunter
    I don't care if it hurts. I want to have control. I want a perfect body. I want a perfect soul. - Creep by Radiohead

  4. #4
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    I remember with Bush it was "Get all your money out of the country" It's always something but then I don't have any money so I never see anything come to fruition anyway.
    And then there was turn it into cash, then get it out of American cash and into foreign money.
    This is your mind on drugs!

  5. #5
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    From the WSJ:
    President Trump said Thursday he intends to nominate former GOP presidential candidate Herman Cain to the Federal Reserve’s board of governors, signaling his desire to remake the nation’s central bank after complaining about it for months.

    The selection of Mr. Cain, following the president’s decision to nominate his former campaign adviser Stephen Moore, marks an effort to install two Fed critics and loyal Trump supporters on the central bank’s powerful seven-seat board.

    While the nominations would be subject to Senate confirmation, they would underscore Mr. Trump’s growing unhappiness with Fed policy under Jerome Powell, whom the president tapped to lead the central bank.
    Before anyone wants to support this furtherance of trump trash because of some romantic idea that trump is a financial wizard---check your guns---trump is a bankruptcy wizard who plays a game of lies and illusion.
    Last edited by Dave Grubb; 04-05-2019 at 09:16 AM.
    "A pessimist sees the difficulty in every opportunity, an optimist sees the opportunity in every difficulty” ---Sir Winston Churchill
    "Political extremism involves two prime ingredients: an excessively simple diagnosis of the world's ills, and a conviction that there are identifiable villains back of it all." ---John W. Gardner
    “You can’t go back and change the beginning, but you can start where you are and change the ending.” ---C. S. Lewis

  6. #6
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    Quote Originally Posted by Dave Grubb View Post
    ...trump is a bankruptcy wizard who plays a game of lies and illusion.
    Oh, heck. Trump has only been through bankruptcy three times.

    Hunter
    I don't care if it hurts. I want to have control. I want a perfect body. I want a perfect soul. - Creep by Radiohead

  7. #7
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    Trump has never been through personal bankruptcy.
    ...............
    “You can vote your way into socialism, but you have to shoot your way out.” — Too fundamental to have an attribution


  8. #8
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    That would be correct WJ and you know Corporations sort of do the bankruptcy thing all the time like every American Airline except for Southwest. And I don't think I really want to take up the space to talk about all the other corporate bankruptcies that have occurred and continue to occur in fact bankruptcy is a part of business strategy in many cases. But I will readily admit if you are looking for a reason to hate, condemn and vilify, bankruptcy has the kind of ring to it to get you excited
    OPINION....a view or judgment formed about something, not necessarily based on fact or knowledge.

  9. #9
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    Quote Originally Posted by UTAH View Post
    Oh, heck. Trump has only been through bankruptcy three times.

    Hunter
    He like most uses it to keep from paying people, to cheat others out of money he owes them or his particular company owes them. They all do it but it just makes them all sorry cheats in my book.
    This is your mind on drugs!

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