Posted on 12/27/2018 11:52:59 AM PST by COUNTrecount
Embattled Federal Reserve chairman tells White House officials he'll meet face-to-face with Trump in bid to end feud that left stock markets reeling over fears president will fire him
Dow Jones closed up 1,086.25 points, or 4.98 per cent, on Wednesday
It was the stock index's largest single-day points gain in U.S. history
Follows biggest-ever Christmas Eve plunge for markets on Monday
White House officials tried to soothe fears over Trump's fury at Federal Reserve
He's upset about rate hikes and reportedly said he wanted to fire the fed chair
Federal Reserve Chairman Jerome Powell is now telling the White House that he'd be willing to meet with President Trump to discuss their differences
The president and the federal reserve chairman have been on an untenable collision course that has delved into the murky waters of whether the nation's chief executive has the authority to fire the head of the United States' central banking system.
Federal Reserve Chairman Jerome Powell is now telling the White House that he'd be willing to meet with President Trump to discuss his concerns about the independent agency's rate hikes, the Wall Street Journal reports.
A face-to-face chat with Powell could quell some of the president's anger about the Fed policies that Trump blames for the dramatic stock losses an instability in the market, despite a sustained unemployment rate of 4.1 percent or less over the last 14 months.
'A meeting between the two should be helpful,' Larry Kudlow, head of the president's economic, told the Journal. 'Right now, their relationship is like a stock looking for a bottom. There’s only upside.'
(Excerpt) Read more at dailymail.co.uk ...
The U.S. Economy does not depend on just one single person for pete’s sake. This is so whacked out.
Here's a perfect example of what is driving this:
Facebook (NASDAQ: FB)
12/27/18 Opening Price: $132.44
Market Capitalization: $377.90 billion
Dividend Yield: N/A
There you have it, folks ... A U.S. company that has never paid a single penny in dividends is somehow worth nearly $400 billion? This stock market decline is a case of fixing delusions, for the most part.
P.S. -- Facebook probably doesn't have 2.27 billion monthly users like they reported for the third quarter of 2018, either. It's only 2.269999995 at most, since six of these users are ME. :-P
Way cool! We knew Trump was a powerful figure but not only does he control the winds and rains but he also controls the stock market.
Trump is right about this.
Governments create money, they don't need to borrow it from international banksta's!
It's not about him personally being fired....it's about him raising interest rates for no reason.
Hopefully this leads to Powell offering his resignation, because there’s no way he’ll convince Trump that he’s right and Trump is wrong.
These rate increases are not only small, but widely advertised well in advance.
Interest rates are at historically low levels.
The lion’s share of the blame rests with the spendthrift Congress, past and present. Nearly $22 trillion in debt now.
Bring all our military and human resources home from around the world, putting an end to senseless, endless, and expensive NeoCon wet dreams. Stop the illegal invasion cold and get rid of all the illegals here now. Adopt the widespread use of Thorium energy.
Do that and not only will 90% of our problems be gone, but the President will never have to concern himself about the Fed again.
As the great Ronald Reagan once said (paraphrased but close): “The solutions are simple. It’s actually doing it that the problems begin.”.
.25% rise in FED funds rate did not cause market down turn. Powell’s press conference after FED rate increase was a disaster. It removed any confidence in the FED there may have been. Powell’s press conference was the reason the market sold off. Powell’s selection by Trump was a mistake.
The S&P 500 is trading at a current P/E ratio of almost 19, compared to a historical average in the range of 14.5-15.5 or so.
Banks are controlling our nation’s finance. The fed is unconstitutional.
Firing the FED chairman solves nothing when you've appointed five of the seven members of the board of governors.
Trump isn’t going to fire Powell. He can’t fire him without cause.
“Embattled Federal Reserve chairman tells White House officials he’ll meet face-to-face with Trump in bid to end feud that left stock markets reeling over fears president will fire him”
Uh....how about we just FIRE the WHOLE FED. The people running it are EVIL and there is no reason on earth why THEY should control our lives. Then FIRE the U.N. from ANYTHING requiring money from the U.S. Charge them a hefty rent for even being able to operate within U.S. borders.
“...’A meeting between the two should be helpful..”
I wish he’d get a Marine Corps boot camp quality ass chewing
from Trump.
The problem is not a single .25% rate increase, but a series of .25% increases at the same time the Fed is offloading its balance sheet.
when it was growing its balance sheet liquidity was added to the financial system. Stocks went up. Now with the offloading, the Fed is in uncharted territory and increasing rates at the same time. The combination is the problem.
Exactly and CORRUPT.
Your post would make more sense if interest rates on U.S. government bonds were rising dramatically. But they’re actually pretty steady — or rising very slowly. In face, the yield on a 30-year Treasury note was 3.06% yesterday — which is lower than it’s been at the end of every month from September onward.
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