Hey, message to Trump, you appointed Powell.
While the rate is too low, the Fed will always move too fast in raising the rates. They want to appear to be smart and ahead of the curve.....rather than being patient and letting the market send the proper signals.
Four increases in one year is a recipe for disaster. It amounts to micro managing the economy. Two should be the max.....unless some extreme intervention would be required.
Trump is right to criticize.....
The problem is that someone is appointed at all. In other words there should be NO fed reserve. What man could be entrusted with such power? The fed has enormous power over the economic lives of 300 million people. How could anyone be assured their motives are pure? The obvious answer is they can't. And who are the other members of the fed? Does anyone even know one name? What do we really know about Powell? How is it even remotely logical to trust our entire economy to people we don't even know and even if we did how could we be sure of their motives?
It's time to rid this country of the fed. Let the market determine rates.
Hey, Trump may have appointed Powell, but that was before Trump learned that half his advisers were planning a coup. I think Trump is clearly catching on that the swamp is far more than hip deep in reptiles.
Trump needs to make nominations with an eye as to how they are received on the hill. If they like the nominee, get another!