Tuesday, May 14, 2019

Charlie Munger on Trump's Attempts at Influencing the Federal Reserve

 Charlie Munger
Billionaire and Warren Buffett sidekick, Charlie Munger (95), got it right in remarks he made to Yahoo Finance Editor-in-Chief Andy Serwer in a conversation that airs on Thursday.

In the interview, Munger put into perspective Trump’s efforts to pressure Federal Reserve Chairman Jerome Powell on interest rates.

“I think presidents have always done this,” Munger said.

But he went on to rebuke Trump’s call that the Fed lower interest rates (which involves printing more money).

“If you're a politician in a democracy, of course, ou want people to print money and spend it,” Munger says. “And of course, it's not a good idea.”


1 comment:

  1. Yeah, this plutocrat obviously wants to preserve the privilege of his bankster gang to run the US to their own benefit, unhampered by the choice of hoi polloi.

    This is not about inflation, it's about who is controlling when it happens - and, therefore, who will be able to front-run it.

    A propos... why do these reptiloids live so long? Must be something related to lower metabolism. Like turtles or something. Or maybe it's parabiosis.