Trump started a fight with the Fed he had zero chance of winning — now he’s backing down
....The president has bashed the Fed and his hand-picked chairman, Jay Powell, repeatedly since the summer for raising interest rates. Wall Street largely took the president’s criticism in stride until Trump reportedly mused about whether he could fire Powell. ...
...A frenzy of speculation about the president’s intent accelerated a huge selloff in the stock markets in the days leading up to Christmas. ...
....On the heels of these huge losses, Trump has beaten a hasty retreat. His two top economic advisers, Kevin Hassett and Larry Kudlow, have publicly declared the president has no intention of taking any action against Powell. ...
https://www.marketwatch.com/story/trump-...2018-12-26
....The president has bashed the Fed and his hand-picked chairman, Jay Powell, repeatedly since the summer for raising interest rates. Wall Street largely took the president’s criticism in stride until Trump reportedly mused about whether he could fire Powell. ...
...A frenzy of speculation about the president’s intent accelerated a huge selloff in the stock markets in the days leading up to Christmas. ...
....On the heels of these huge losses, Trump has beaten a hasty retreat. His two top economic advisers, Kevin Hassett and Larry Kudlow, have publicly declared the president has no intention of taking any action against Powell. ...
https://www.marketwatch.com/story/trump-...2018-12-26
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