Thursday, November 15, 2018

Federal Reserve Chairman Powell Responds to Attacks From Trump

The money printer has spoken.

Federal Reserve Bank Chairman Jerome Powell addressed President Trump's repeated attacks on the central bank on Wednesday, though not directly, when Dallas Federal Reserve President Robert Kaplan asked him about criticism from "political leaders":
We have a very important job that Congress has assigned us: serve the public ... That's our sole focus. We don't try to control things we don't control. We try to control the controllable. We're just trying to do our jobs, and we're doing fine. (via Axios)
Powell also said the U.S. economy "is in such a good place right now" and credited the Fed monetary manipulation policy for helping to engineer that growth:
"I'm very happy about the state of the economy now," he said in an interview with Dallas Fed President Robert Kaplan. "Our policy is part of the reason why our economy is in such a good place right now. (via CNBC)
For the truth about Fed policy since its inception see: The Fed Flunks: My Speech at the New York Federal Reserve Bank 


No comments:

Post a Comment