The much-anticipated Federal Reserve rate cut has not even happened yet, but the toddler-in-chief is already whining about it like the spoiled brat on Christmas morning unhappy with the shape, size and quantity of presents under the tree that he once was.
His best attempt at a brave face and vague, empty expressions of approval in him by Congress, this is not likely to make Jay Powell feel particularly confident going into this week’s meeting. And his predecessor isn’t making it any easier on him.
“I think in light of the risks, I would be inclined to cut a bit,” she said, referring to the Fed’s benchmark interest rate. “I wouldn’t see this as the beginning, unless things change, of a major easing cycle. But I do think it’s appropriate.”
Now is not the time to remind our oafish child-president that the guy he picked to not be you—in spite of the fact that said guy was essentially you without an economics Ph.D—is, in fact, you, Janet! Larry Kudlow’s got it hard enough without having to talk his boss off this cliff right now, having so effectively browbeaten Powell into giving Trump at least some of what he wants, only to have the woman who so recently went on the radio to call that boss an idiot say, “Looks good to me!” Not helpful, J-Yellz, unless you’re bored and want to see what happens when a president tries to fire or demote a Fed chair or find some other outlet for Constitutional chaos.
Former Fed Chair Janet Yellen says she’s in favor of an interest rate cut [CNBC]
Trump hits the Fed again, says ‘small rate cut’ this week is not enough [CNBC]
Fed Poised to Cut Rates for First Time Since Financial Crisis, Ending an Era [NYT]