Trump economic adviser: Fed doing 'good job,' respects independence

REUTERS
 

Gary Cohn walks through the lobby at Trump Tower in Manhattan, New York City, U.S., December 13, 2016. REUTERS/Andrew Kelly/Files

 

WASHINGTON (Reuters) - White House economic adviser Gary Cohn said on Sunday that the Federal Reserve "has been doing a good job" and the Trump administration respects its independence, even if the U.S. central bank raises interest rates this week.

 

Cohn, director of the National Economic Council, told Fox News Sunday that the Trump administration will keep working to reduce barriers to job creation no matter what the Fed does on interest rates.

 

"The Federal Reserve is an independent agency and they operate as such. They have their economic data, which they look at and they are trying to always modulate economic growth with inflation, with the work force," Cohn said. "I think the Federal Reserve has been doing a good job in doing that. The Fed will do what they need to do. And we respect the powers of the Fed."

 

(Reporting by David Lawder; Editing by Nick Zieminski)

 

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Look at that photo.  Would you trust that man counting out your daughter's pennies from her piggy bank without putting some in his pocket?   If he's on Trump's economic team, his primary plan is to further cushion rich Americans, while letting the poor stand in the gutter getting a golden shower from Trump's (formerly Reagan's) failed 'Trickle Down' plans.  

 

 

 

2 hours ago, webfact said:

they are trying to always modulate economic growth with inflation, with the work force,"

There is a potential trap for Trump if he does indeed succeed to lower unemployment much further:

Inflation will continue to increase and put pressure for higher labor wages - something Republicans resist.

 

2 hours ago, boomerangutang said:

Look at that photo.  Would you trust that man counting out your daughter's pennies from her piggy bank without putting some in his pocket?   If he's on Trump's economic team, his primary plan is to further cushion rich Americans, while letting the poor stand in the gutter getting a golden shower from Trump's (formerly Reagan's) failed 'Trickle Down' plans.  

 

 

 

Just because Gary Cohn was the number 2 man at Goldman Sachs, an firm repeatedly target by Trump, you think he's a bad guy? Just because he was the guy that the mortgage people reported to, the one who helped bring on the worst financial crisis since 1929? The people who got fined over 1/2 billion dollars for pulling dirty financial tricks?

5 hours ago, Srikcir said:

There is a potential trap for Trump if he does indeed succeed to lower unemployment much further:

Inflation will continue to increase and put pressure for higher labor wages - something Republicans resist.

 

Notice the decline has been since President Obama. Lets see what it is after the next four years. Glad to see that he is leaving one thing alone choosing not to meddle.

At my age I really only care what it will do to the exchange rate.

Yep. He is already in the  knowledge of Moses  that it would  be unwise  to put his  nose  where it  is  unwelcome.