No surprise here. Elections are over so Fed Chief Powell pumps the breaks. Just my opinion.
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El-Erian: Fed chief Jerome Powell is trying to break the market's central bank 'co-dependence'Powell would likely say 'it's about time the markets stand on their own feet' in response to stocks sinking Wednesday following his press conference, economist Mohamed El-Erian says. elerianm His dual mandate is intrinsically linked with the overall health of US equity markets. elerianm The markets have been thriving on the sugar rush from the high levels of cheap liquidity. This is the crash from that rush. elerianm I wonder if it occurs to anyone both how futile and stupid that is. The Fed's mandate is to effect both inflation and unemployment which the market is very interested in and affected by.
Source: CNBC - 🏆 12. / 72 Read more »
Mohamed El-Erian: Fed chief Jerome Powell looks to break the market's central bank 'co-dependence'Jerome Powell would likely say 'it's about time the markets stand on their own feet' in response to stocks sinking Wednesday following his press conference, economist Mohamed El-Erian says. elerianm so 2008 was when America was great? Mission accomplished Mr. President. elerianm Mohd El Erian? Serves fake news media just right elerianm Yellen raised rates without this kind of disruption. Why isn't Powell following same communication strategy?
Source: CNBC - 🏆 12. / 72 Read more »
Trump advisor says Fed Chair Jerome Powell and Treasury Secretary Steven Mnuchin's jobs are safeHassett told a reporter at the White House that Powell's role is completely safe. That assurance followed an appearance on Fox Business News, where Hassett said he is highly confident that the president is happy with Mnuchin. All the other goners jobs were safe also. As usual the opposite is true. They will both be gone sooner than later.
Source: CNBC - 🏆 12. / 72 Read more »