Trump advisers have discussed arranging meeting with Fed's Powell: WSJ

[webfact]

Trump advisers have discussed arranging meeting with Fed's Powell: WSJ

 

FILE PHOTO: Federal Reserve Board Chairman Jerome Powell leaves after his news conference after a Federal Open Market Committee meeting in Washington, U.S., December 19, 2018. REUTERS/Yuri Gripas/File Photo

 

(Reuters) - The advisers of President Donald Trump have discussed in recent days arranging a meeting between him and Federal Reserve Chairman Jerome Powell in the coming weeks, the Wall Street Journal reported on Sunday, citing a source.

 

Trump has recently been critical of the Fed for raising borrowing costs this year, especially as U.S. stocks have tumbled and yields on U.S. government debt have begun to signal a possible recession ahead.

 

Trump has frequently attacked Powell, who was sworn in as Fed chairman last February.

 

Reuters reported on Saturday that Trump has privately discussed the possibility of firing Powell. U.S. Treasury Secretary Steven Mnuchin later said Trump told him he had "never suggested firing" the Fed chairman.

 

The White House and the Federal Reserve did not respond to a request for comment outside regular business hours.

 

(Reporting by Kanishka Singh in Bengaluru; Editing by Dan Grebler)

 

-- © Copyright Reuters 2018-12-24

[Cryingdick]

Given there is little to no indication of inflation he goofed raising the rates. If that wasn't bad enough they said they would raise the rates two more times in the net year or so. If that wasn't bad enough he came out to make a completely unnecessary press conference on the reasons of why he went this way.

 

it was simply series of bizarre and unusual circumstances and all completely avoidable. The market dipped and recovered after the rate announcement. Then for whatever reason he came back to pick the scab until it gushed blood. 

 

As a trader i loved it but for the long term investor it was inexcusable.Not saying he should be fired but it's a bit like Elon Musk he should simply keep his mouth shut and not speak when it isn't required.

[sirineou]

 He said he hires the best people!  Then he says they are no good.  He also has "has the best words" is "like very smart" and he "goes nowhere without his bible"  He probably brought his bible with him while cheating on his wife with the porn star.

you can't make this sh#* Up.

[Cryingdick]

3 minutes ago, sirineou said:

 He said he hires the best people!  Then he says they are no good.  He also has "has the best words" is "like very smart" and he "goes nowhere without his bible"  He probably brought his bible with him while cheating on his wife with the porn star.

you can't make this sh#* Up.

 

I suspect it had a little to do with Powell not wanting to be seen as being a yes man for Trump.  If that is even remotely the case he should be removed. It can't be proven one way or another but the fed chairman needs to approach the economy with out emotion. 

[Tug]

Donald has wrecked every company he has owned he is a promoter no more than that leave the fed alone they are way smarter than you they think about things not reacting on a gut like you it’s your big mouth that’s wrecking the stock market 

[sirineou]

4 minutes ago, Cryingdick said:

 

I suspect it had a little to do with Powell not wanting to be seen as being a yes man for Trump.  If that is even remotely the case he should be removed. It can't be proven one way or another but the fed chairman needs to approach the economy with out emotion. 

Powell is only the chairman 

As far as I know the decision to raise rates  was unanimous among the committee.   

 

[sirineou]

9 minutes ago, Tug said:

Donald has wrecked every company he has owned he is a promoter no more than that leave the fed alone they are way smarter than you they think about things not reacting on a gut like you it’s your big mouth that’s wrecking the stock market 

Yes but trump is not simply smart , he is "like  smart" and  a very stable genius"

I wonder if he meant he was the smartest ass in the stable.

[Cryingdick]

3 minutes ago, sirineou said:

Powell is only the chairman 

As far as I know the decision to raise rates  was unanimous among the committee.   

 

 

i said the rate hike was expected and priced in. Yes, Powell is only the chairman I am saying the damage occurred when he felt the need to come back out and make press conference that was completely unwarranted. He should have went home and said nothing more. However he felt that he needed to explain at length just before the market closed and it tanked on everything he said.

 

This was completely unnecessary and a blunder that shows he couldn't help himself and felt the need to justify himself and the fed. The fed should just raise rates and that's it. The market perceived it to be a personal agenda and hated every word he said. 

 

 

[quandow]

[Briggsy]

Mr Powell

 

I strongly suggest you bring counsel to any meeting with the president, both Federal Reserve Counsel and perhaps, personal counsel. Should the president try to "clear the room", stand your ground and refuse or simply leave with your witnesses. Leaving early is a concept the president understands. Contemporaneous notes are a must. You could even go the Cohen route and record the conversation. Beware of anything resembling a "loyalty oath".

[Chomper Higgot]

Let’s not get distracted.

 

The markets crashing is nothing to do with the Fed, it is entirely due Trump and his policies, particularly his trade war.

[Cryingdick]

3 minutes ago, Briggsy said:

Mr Powell

 

I strongly suggest you bring counsel to any meeting with the president, both Federal Reserve Counsel and perhaps, personal counsel. Should the president try to "clear the room", stand your ground and refuse or simply leave with your witnesses. Leaving early is a concept the president understands. Contemporaneous notes are a must. You could even go the Cohen route and record the conversation. Beware of anything resembling a "loyalty oath".

Last I checked Trump insists on cameras being around. Dick and Nancy didn't like it. 

[Cryingdick]

3 minutes ago, Chomper Higgot said:

Let’s not get distracted.

 

The markets crashing is nothing to do with the Fed, it is entirely due Trump and his policies, particularly his trade war.

You are out of touch with reality. 

[sirineou]

8 minutes ago, Cryingdick said:

 

i said the rate hike was expected and priced in. Yes, Powell is only the chairman I am saying the damage occurred when he felt the need to come back out and make press conference that was completely unwarranted. He should have went home and said nothing more. However he felt that he needed to explain at length just before the market closed and it tanked on everything he said.

 

This was completely unnecessary and a blunder that shows he couldn't help himself and felt the need to justify himself and the fed. The fed should just raise rates and that's it. The market perceived it to be a personal agenda and hated every word he said. 

 

 

sorry you are right.

I thought you were referring to the decision to raise rates rather than the press conference, which you had mentioned in another post.

[Briggsy]

Just now, Cryingdick said:

Last I checked Trump insists on cameras being around. Dick and Nancy didn't like it. 

The cameras are for the showboating meetings.

The illegal interference in the workings of independent agencies, FBI, Director of National Intelligence, DOJ, the Fed, SCO....... are done secretly, behind closed doors. The only thing more opaque is the workings of the secretive Trump Organisation.

[Chomper Higgot]

1 minute ago, Cryingdick said:

You are out of touch with reality. 

I’ll grant you I’m out of touch with what you regard as reality.

[sirineou]

2 minutes ago, Cryingdick said:

Last I checked Trump insists on cameras being around. Dick and Nancy didn't like it. 

Except when he meets with the Russians , when  he only wants Russian cameras LOL (reference to infamous Lavrov meeting)

[lannarebirth]

27 minutes ago, Tug said:

Donald has wrecked every company he has owned he is a promoter no more than that leave the fed alone they are way smarter than you they think about things not reacting on a gut like you it’s your big mouth that’s wrecking the stock market 

No it's not, it's The Fed. Not what they're doing now, but what they did over the past 10 years. There should have been no QE 3 and interest rates should have started climbing incrementally 5 years ago. Now they're boxed in and have to get back to AT LEAST 3% FFR just to maintain a neutral accomodation policy, while maintaining their reduction in their balance sheet..

 

The mistakes currently being made are 1) Powell is over explaining what he is doing and should just rely on nuanced press releases post FOMC meetings and his dot plot to explain what the future may hold for Fed policy. And 2) Trump seems to be divvying up his TV viewing time between Fox and Friends and Jim Cramer's Mad Money.

[Cryingdick]

14 minutes ago, lannarebirth said:

No it's not, it's The Fed. Not what they're doing now, but what they did over the past 10 years. There should have been no QE 3 and interest rates should have started climbing incrementally 5 years ago. Now they're boxed in and have to get back to AT LEAST 3% FFR just to maintain a neutral accomodation policy, while maintaining their reduction in their balance sheet..

 

The mistakes currently being made are 1) Powell is over explaining what he is doing and should just rely on nuanced press releases post FOMC meetings and his dot plot to explain what the future may hold for Fed policy. And 2) Trump seems to be divvying up his TV viewing time between Fox and Friends and Jim Cramer's Mad Money.

 

Thank you for that post. Finally somebody who actually gets it 

[LomSak27]

16 minutes ago, Chomper Higgot said:

Let’s not get distracted.

 

The markets crashing is nothing to do with the Fed, it is entirely due Trump and his policies, particularly his trade war.

If you are retired, if you have money in Indexed mutual funds say. Trump's only strong point was markets continued their rise. 

 

Now he is just a fat old blowhard. .... which is what he always was. Go Figure   

[lannarebirth]

18 minutes ago, LomSak27 said:

If you are retired, if you have money in Indexed mutual funds say. Trump's only strong point was markets continued their rise. 

 

Now he is just a fat old blowhard. .... which is what he always was. Go Figure   

 

If you have funds in indexed mutual funds you'll know that most of the companies in these funds have been going down for a great while now. Only the highest capitalization companies were moving up which moves the index up and disguises what is happening to all the lower capitalized companies in the index.

[Cryingdick]

57 minutes ago, Chomper Higgot said:

I’ll grant you I’m out of touch with what you regard as reality.

Can I ask you where you are from and how long you have been overseas? 

[Tug]

Tired of winning yet?

[Becker]

2 hours ago, Cryingdick said:

 

I suspect it had a little to do with Powell not wanting to be seen as being a yes man for Trump.  If that is even remotely the case he should be removed. It can't be proven one way or another but the fed chairman needs to approach the economy with out emotion. 

Yes, as a high-flying trader I'm sure you know the reasoning behind Powell's decisions and know better than the Fed when to raise/not to raise interest rates.

You're obviously an oracle just like those man-child supporters who already know the results of the Mueller investigation!

[LomSak27]

33 minutes ago, lannarebirth said:

If you have funds in indexed mutual funds you'll know that most of the companies in these funds have been going down for a great while now. Only the highest capitalization companies were moving up which moves the index up and disguises what is happening to all the lower capitalized companies in the index.

Really fascinating stuff and it sounds convincing too by the way.  ... That said my Vanguard has been doing well for more than two years. Last year of Obama was nice also. Do you even have a clue what you are burbling on about .. 

 

Now we are hiccuping. Hey my fault I knew I should have cut the cream and put in MM and cash accounts. And no excuses because I know that Donnie is a total buffoon so this was in ways inevitable. We just put off when its going good.   

 

However   That is the difference between actually owning vs posting dried pucky on a forum  ... Go figure huh?   

 

Merry Christmas!

[TallGuyJohninBKK]

Perhaps the purpose of the desired meeting is so Trump can offer Powell and the other Fed members some fun time with assorted hookers / porn stars / Playmates -- if they're willing to relent on interest rates.

 

After all, the Donald does have quite good connections and experience in that field.

 

[lannarebirth]

8 minutes ago, LomSak27 said:

Really fascinating stuff and it sounds convincing too by the way.  ... That said my Vanguard has been doing well for more than two years. Last year of Obama was nice also. Do you even have a clue what you are on about .. 

 

Now we are hiccuping. Hey my fault I knew I should have cut the cream and put in MM and cash accounts. And no excuses because I know that Donnie is a total buffoon so this was in ways inevitable. We just put off when its going good.   

 

However   That is the difference between actually owning vs posting dried pucky on a forum  ... Go figure huh?   

 

Merry Christmas!

 

Happy for your gains. Sincerely. You may want to familiarize yourself with the TRIN indicator. Especially when the market rebounds, which of course it will. TRIN will give you a good indication of the market's internal health.

[alanrchase]

2 hours ago, Cryingdick said:

 

i said the rate hike was expected and priced in. Yes, Powell is only the chairman I am saying the damage occurred when he felt the need to come back out and make press conference that was completely unwarranted. He should have went home and said nothing more. However he felt that he needed to explain at length just before the market closed and it tanked on everything he said.

 

This was completely unnecessary and a blunder that shows he couldn't help himself and felt the need to justify himself and the fed. The fed should just raise rates and that's it. The market perceived it to be a personal agenda and hated every word he said. 

 

 

If Trump had gone home and said no more after the rate hike perhaps Powell  would not have felt the need to explain it. Unfortunately Trump can't keep his mouth shut or his fingers off his mobile phone.

[farcanell]

4 hours ago, Cryingdick said:

 

i said the rate hike was expected and priced in. Yes, Powell is only the chairman I am saying the damage occurred when he felt the need to come back out and make press conference that was completely unwarranted. He should have went home and said nothing more. However he felt that he needed to explain at length just before the market closed and it tanked on everything he said.

 

This was completely unnecessary and a blunder that shows he couldn't help himself and felt the need to justify himself and the fed. The fed should just raise rates and that's it. The market perceived it to be a personal agenda and hated every word he said. 

 

 

Maybe he should have left it up to the president to tell the people why the fed acted thus.... oh wait... 7000 plus lies... maybe the fed factored that into their calculations ????

 

or... do the American peoples not deserve the truth?

[bristolboy]

3 hours ago, lannarebirth said:

 

If you have funds in indexed mutual funds you'll know that most of the companies in these funds have been going down for a great while now. Only the highest capitalization companies were moving up which moves the index up and disguises what is happening to all the lower capitalized companies in the index.

I don't think that's the case at all. The Russell 2000  tracks the 2000 companies with the smallest capitalizational. It tracks very closely with the other major indexes including the Dow Jones Average and the S & P 500

https://www.cmegroup.com/education/featured-reports/equities-comparing-russell-2000-vs-sandp-500.html