President Trump Donald John Trump Party MPs demand Air Force Secretary for top defense position. Austin couple puts baby Jesus in "ICE cage" to protest Trump's immigration policy. White House Women's College: "I have never seen so many mothers" In a briefing room like Trump's Presidency, MORE has a destabilizing effect on financial markets and a mounting attack on Federal Reserve President Jerome Powell Rattles of Republican lawmakers.
Trump's criticism of the central bank's chief politician set to work on Monday Not long after the finance minister Steven Mnuchin Steven Terner MnuchinMnuchin tries to secure markets after the stoppage Washington Mnuchin: Trump does not believe he has the authority to defend the Fed chief in discussions of Saudi relations trying to calm the markets by insisting that Trump had no intention of firing Powell.
Trump has this Cl goal is to blame the Fed for market volatility and the recent economic problems.
The Dow Jones Industrial Average plunged 653 points in Monday's worst stock market performance before Christmas, as Trump renewed its attack on the Fed over interest rate hikes last week. The S & P entered a bear market and has fallen more than 20 percent since its peak in August.
According to economists, Trump is destabilizing in the markets, and the GOP legislator has publicly asked him to be more careful in his public statements, the Fed, an independent institution.
Vin Weber, former Mitt Romney Business Advisor Willard (Mitt) Mitt RomneyFive Possible Successor to Mattis The Hill's Morning Report – Congress Prepares for 2019 The legacy as talk of stagnation dominates the capital of MORE warned the 2012 presidential campaign, warned against taking any drastic measures, and said that a Powell kill would provoke a "very bad" reaction.
"People would do so regardless of their views on monetary policy" He said that an attack on the Fed's independence would greatly shake confidence, he said Monday
Trump's Attempts to Inflate Monetary Policy "According to Weber, they are likely to decline because they will only make the Fed's work more difficult if they try to maintain their credibility and independence."
"The President creates an impossible situation for the Fed because anyone appointed to the Fed's Board of Governors this includes their priorities, which preserve the independence of the Fed, "he said." Everyone would really feel insecure if they thought the Fed was not acting as an independent institution. "
" If the president criticizes the Fed so critically He almost forces her to prove her independence by going against him or against him doing a very public show that is not does what he wants, "Weber added.
Axel Merk, president and chief investment officer of Merk Investments, a Palo Alto, California-based firm, said Trump intends to blame the Fed for planning Goldman Sachs and JPMorgan Chase shortly before re-election in 2019 economic slowdown.
"The Fed can not" win, "said Merk," The Fed is blamed for a downtrend or a recession, Trump needs a guy, and Powell is just the ticket for the Fed. "
Trump often bragged about the rapid development of the stock markets in 2017, but mentioned the markets less frequently this year, failing to meet the high expectations set by expectations of the US Republican, which passed the tax reform a year ago
Mnuchin tried to calm the markets over the weekend by tweeting that Trump admitted he did not have the power to fire Powell, but the absence of a similar statement from the President left this insurance
Trump left then attacked on Monday and tweeted, "The only problem our economy has is the Fed."
"They have no sense of the market, they do not understand ne necessary trade wars or strong dollars or even democrats are being closed across borders. The Fed is like a mighty golfer who can not score because he has no points of contact – he can not putt! "Tweeted the President."
Mark Zandi, the chief economist of Moody's Analytics, warned the Fed with the Fed Monday before the war, "The stock market is shaken."
"Investors are increasingly out of the wrong President's attacks on the Fed and the US Treasury's weak efforts to persuade everyone not to scare Trump and it's all right, "he told The Hill " Trump's trade war, his bold readiness, the Zandi said, "Trump's inappropriate economic policies have already been looking for equity investors for the door, but given the political chaos he is creating, they are now going through." 19659004] The Republican legislator wants Trump to weaken his criticism of the Fed.
Sen. Pat Toomey Patrick (Pat) Joseph Toomey Overnight Defense: Pick for südk Korean Enemy Defends Korean Military Exercises White House Defends North Korean General WH's Trump Greetings Behind Pedals on Trump's "Due-Process" Commentary on Guns Top GOP candidate drops out of the Senate from Ohio from MORE (R-Pa.) On Sunday, Trump called the comments "unfortunate" and he defended Powell, who was confirmed by the Senate in January with 84 to 13 votes, one of the widest margins for a Trump candidate.
"Chairman Powell will not interfere with politics in his decision-making process. I think we are grateful to him, "he said, praising the Fed chairman for putting monetary policy" on a path of normalcy ". 19659004 Former Chairman of Senate Banking Committee Richard Shelby Richard Craig ShelbyMnuchin attempts to secure the markets after shutdown Washington Lawmakers shake the drama drama off GOP discord on wall prolongs standstill fight MORE (R-Ala.) Warned Saturday to overthrow Powell.
"I would be very careful with it," he said. "The Federal Reserve is set up as an independent state."
Legislators are cautious that Trump will make another unexpected, high-profile staffing decision after he has accelerated the departure of outgoing Defense Secretary James Mattis James Norman MattisBipartisan Legislature call for Air Force Secretary for Defense Department top Ministry of Defense signed executive order to withdrawal Bloomberg bombards Trump as "recklessly emotionally and senselessly chaotic" MORE announced by the end of the year instead of Mattis at the beginning of February.
Powell said on Wednesday that Trump's pressure had no impact on Fed policy.
"Political considerations played no role whatsoever in our discussion or decision on monetary policy," he told reporters after the Fed announced a quarter-count increase in its interest rate, the Fed's fourth rate hike of the year. "We have the independence we consider essential to do our work in an unpolitical manner."
"We at the Fed are absolutely committed to this mission, and nothing will stop us from doing what we think Doing the right thing, "he added.
These comments prompted Trump to discuss privately the launching of Powell, according to Bloomberg and CNN, although experts are undecided as to whether he has the authority to dismiss a Fed chairman
Matt Stoller, a member of the Open Markets Institute, tweeted on Saturday that Trump could fire Fed board members for holding bank shares in index funds under section 10 of the Federal Reserve Act.
Other financial experts have argued that the law authorizing a president to remove a chairman of the Fed "for a reason."
Mnuchin attempted to speculate on the woc henend by telling him with a Tweweing that Trump told him while he did not agree with Fed policy that he had no right to remove him.
This pledge failed to prevent an IPO on Monday, giving ammunition to the Democrats in the battle for frontier wall financing, which shut down some federal ministries and agencies over Christmas.
"It's Christmas Eve and President Trump is plunging the country into chaos," Senate Democratic Leader Charles Schumer Charles (Chuck) Ellis SchumerWhite House, Shutting Down the Legislature Will Drag The Republicans Opportunity For Democrats Moves On with no clear path to avert the shutdown MORE (NY) and Democratic House Leader Nancy Pelosi Nancy Patricia D & # 39; Alesandro PelosiWhite House, shutdown of lawmakers will drag themselves a chance for Democrats Mulvaney: "Very possible "shutdown will be included in the new Congress MORE (19659003) (California), said in a joint statement. "The stock market is fueling and the president is conducting a personal war against the Federal Reserve – after he has just fired the Secretary of Defense."