Economy

Powell Said to Tell Democrats Fed Won't Bend to Outside Pressure

Powell Said to Tell Democrats Fed Won't Bend to Outside Pressure”

President Donald Trump on Monday urged the Federal Reserve not to raise interest rates, but Fed officials are widely expected to do so this week despite the president's ongoing public effort to dissuade the USA central bank from putting any brakes on the economy.

House Speaker Nancy Pelosi slammed two of President Trump's proposed nominees to the Federal Reserve Board of Governors on Thursday, calling them "the worst, ill-suited appointments that the president could have come up with".

A top economic advisor to President Donald Trump said Friday that the government isn't trying to damage the independence of the Federal Reserve by appointing two of the close allies of Trump to the Fed board.

Kudlow noted the Fed was an independent central bank and said the Trump administration aimed to keep it that way. Pelosi said. "The Fed should be determining the rates, not any politicians, and that is a unsafe thing for an economy when the central bank of a country has. political influence".

The strikes on the Fed of trump hastened past year as the central bank increased rates.

Economists say solid hiring and wage gains that are small from Friday's jobs report for March probably are not enough to change the existing plans of the Federal Reserve to hold off to further interest rate hikes.

But while economists don't like Trump's Fed bashing, there are some who are starting to agree with the president that it's time for the Fed to hit pause on the rate hikes.

Powell caused the stock market to rally on November 28 when he added that he thought the Fed had taken rates to "just below" the so-called neutral rate of interest, which is a "Goldilocks" level that doesn't stimulate or contract growth. One of the four, Mitt Romney, said "the president would be wise to nominate someone who is less partisan and more experienced in the world of economics".

Jeffries, chairman of the House Democratic Caucus and a possible eventual successor to Pelosi, derided Trump's choice of Moore and Cain.

"I don't think I've ever really said anything much about the gold [standard]", he insisted.

Pelosi said politics played no role in Powell discussing his views on the economy at the Democratic retreat.

Powell spoke to a gathering of House Republicans in recent weeks at the invitation on Minority Whip Steve Scalise of Louisiana, according to Scalise's office.



Like this

loading...
loading...

Latest


14 Апреля 2019
Mobile phone detectors set to be used by police
If the device determines a signal is being sent by a motorist, it will send a warning that flashes on their device's screen. However, the detectors can not tell if it is a driver or passenger using the phone.

14 Апреля 2019
Man accused of throwing child from mall balcony had been banned
A witness Friday at the mall told WCCO that the child's mother was screaming that someone had thrown her child from the balcony. Police have arrested a suspect! In October 2015, Aranda was accused of throwing glasses in Twin Cities Grill in the mall.

14 Апреля 2019
Champions League: Chris Smalling lauds Man United physical intensity against Barcelona
If Dembele comes through the game against Huesca unscathed, the Frenchman could be in line to start against United at Camp Nou. Barcelona will be facing Manchester United in the most crucial second leg of Uefa Champions League on Tuesday.

14 Апреля 2019
English Premier League: Newcastle move closer to survival with win over Leicester
Leicester: Newcastle took a huge step towards securing their Premier League survival as Ayoze Perez sealed a 1-0 win against Leicester on Friday.

14 Апреля 2019
Mumbai Indians first team to play 200 matches in T20 cricket
Despite a tremendous batting performance from Rohit Sharma and Quinto de Kock and a big total, it was simply not Mumbai's day. The Rajasthan outfit eventually managed to get over the line with three balls to spare after a Jos Buttler (89) onslaught.

14 Апреля 2019
UB's Cierra Dillard drafted by Minnesota Lynx
She finished the season ranked second in the nation in scoring, with an average of 25.3 points per game. Collier, a forward from the University of CT , racked up 24 double-doubles during her senior season.

14 Апреля 2019
Stagecoach 'shocked' at disqualification from three rail franchise bids
Bidders had been asked to bear the full long-term funding risk on relevant sections of the Railways Pensions Scheme, according to Stagecoach.

14 Апреля 2019
NASA twins study reveals long-term spaceflight’s impact on human health
This also increases the risk for diseases that come along with aging, including cardiovascular disease and some cancers. The research can also help us understand how the human body reacts to other stressors, such as disease.

14 Апреля 2019
Homeless man who participated in GoFundMe scam sentenced to 5 years' probation
But in truth, McClure's entire story was bogus and Bobbitt never spent "his last $20" helping McClure, prosecutors said. They bought Bobbitt a camper, and he lived in it for a time on a property McClure's family owned in Florence Township.

13 Апреля 2019
ConceptD - Acer’s new series of powerful devices for creators
The Conecpt9 will be the flagship of the new line-up and according to Acer , it is specifically designed for drawing and 3D works. Acer has rolled out a new line of notebooks, monitors, and desktops that it is aiming at content creators called ConceptD .