Posted on 07/25/2025 6:39:14 PM PDT by RandFan
Financial markets finished the week on a high note after Federal Reserve Chair Jerome Powell stood his ground against President Trump in a rare joint appearance by the two men Thursday.
The S&P 500 finished 0.4 percent up, and the Dow Jones Industrial Average finished up 208 points or 0.47 percent.
The tech-heavy Nasdaq Composite gained about a quarter of percent to close above 21,108.
...
Friday’s gains followed a confrontation between Trump and Powell on Thursday in which Powell repelled an attack from Trump — this time not on social media but on television.
The exchange took place at a construction site where a Fed facility is undergoing renovations. The renovations have been criticized by administration officials for a cost overrun.
During the appearance, Trump told Powell that the overrun was higher than previously reported, which surprised Powell. Trump then produced a document in support of his claim, which Powell quickly scanned and then dismissed.
“You just added in a third building,” Powell responded.
“It’s a building that’s being built,” Trump rejoined.
“No,” Powell corrected the president. “It was built five years ago.”
“It’s part of the overall work,” Trump pressed.
But Powell pressed back: “It’s not new.”
Then the president moved on.
Powell’s quick analysis of the document and firmness in front of the cameras showed him withstanding presidential pressure, much as he’s done over interest rates.
(Excerpt) Read more at thehill.com ...
It never ceases to amaze me how the media always knows what makes the market jump or plunge. Those guys and girls are so smart.
Not the way I saw it. I bet they are happy because it is obvious that his days are numbered.
i think they are misreading the markets reading of powell’s reading of the president’s reading of the letter...
3.2 billion in renovations cannot stand
Exactly. Zero correlation.
I know nothing about the markets, but isn’t it possible that the markets are up BECAUSE Trump showed up Powell live on TV?
Causation vs correlation. The S&P 500 posted it’s fifth consecutive record close this week.
Deer in the road,held its ground , on.the headlights...
That was my thought as well.
But the MSM will never miss an opportunity to dis President Trump.
Powell looked like a fish out of water. His head was down, he seemed to mumble, he looked defeated.
Trump was in his element.
Anyone see that.
That was an entertaining moment...hahaha.
What a bunch of horse shit! To imply that the markets were up because Powell stood up to Trump is fake news. For one thing Powell looked like a weasel with Trump. One would think inasmuch as the POTUS wants to replace him, that he would step aside.
If Powell would lower interest rates I’d bet the markets would really jump.
As it is the markets have been jumping for some time now.
That!
And the recent trade deal with Japan is more likely a reason the markets are up this weekend close.
Trade deal upon trade deal upon ...
The market wants higher interest rates? Must be new math.
“Pay no attention to the man behind the Curtain”
They ALWAYS have to make the Fed Reserve omnipotent.
Best book I ever read was “The Creature from Jekyll Island”, Explains the nonsense.
I am thankful that Tsla bounced off the calls I bought yesterday. Bailed on them because it could tank on Monday.
Once again, “The Hill” is reading the room all wrong. Powell did NOT “repel” Trump, he just played dumb when confronted with the disparity of the costs in conjunction of the value added to the renovation project.
WAY overbudget and not even in timely completion. If there is one thing that Trump knows beyond all challenge, it is the costs of both renovation and construction.
Powell’s quick analysis of the document and firmness in front of the cameras showed him withstanding presidential pressure, much as he’s done over interest rates.
😂
These twits watched an entirely different exchange than what the rest of the world watched.
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