That bit about the POTUS not influencing the Fed is a bit of BS. Trump maybe is the first to be so publicly vocal, but if say the Fed decided to ratchet rates up 4% under Obama, do they really believe Obama would have stayed out of it?
Trump has been very forthright to the Fed leadership that he recognized their attempts to slow the economy by raising rates when it was really heating up and attempting to slow the expansion and pay off the Central Banks they answer to.
Blood is in the water, the Fed is on a short leash
That is all
|Obama could have shot his mouth off all he wanted and the Fed would have done what the Fed would have done. It's not one person's decision. It's a decision by up to 12 members of the FOMC.
The Fed is a political machine in itself. Only a Democrat can enjoy interest rates set at -0- for many years with no threat of moving up.
Trump wasn’t the first President to be publicly vocal with the Fed. The Fed and the presidency has a long history of strife. It was a President who closed down the Fed and it was President who brought back the Fed. As Bill Cosby said, “I brought you into this world and I can take you out.” The Fed can be removed. Or do people believe they are too strong to not be taken out of this world?
The Fed gave rise to the IMF and World Bank to which the world economy is now in a Central Bank model. Get rid of the Central Banks (the Fed, the IMF etc.) and the world economy would plummet for a while but then rise to be much stronger than before. The IMF and World Bank are nothing but socialist institutions anyhow.