Bloomberg reports a gated story published by the Wall Street Journal (WSJ) overnight, citing that the Federal Reserve Chairman Jerome Powell received a call from the US President Trump on March 8th as disappointing US jobs report that day sent stocks to their biggest weekly drop of the year.
Meanwhile, last Friday, Trump tweeted: “Had the Fed not mistakenly raised interest rates, especially since there is very little inflation, and had they not done the ridiculously timed quantitative tightening, the 3.0% GDP, & Stock Market, would have both been much higher & World Markets would be in a better place!”
Further Details:
Trump blasting Powell at three meetings in the past week.
Blaming Treasury Secretary Steven Mnuchin for recommending Powell for the job.
Trump also signaled privately that he may have no choice but to leave Powell — whom he picked to lead the central bank — in place.”I guess I’m stuck with you,” the Journal quoted.
Share
