Federal Reserve chairpersons have often taken the “suggestions” of presidents to heart, but Trump and Powell’s interactions may be the most overt of them all. From Sven Heinrich at northmantrader.com:
After getting a public twitter scolding from President Trump for letting the Dow reverse into red yesterday Jay Powell was not about to let the same mistake happen twice and came fully prepared ready to jawbone today.
Is the presumption ridiculous? What isn’t ridiculous these days?
A president watching every tick on the $DJIA and grading the Fed Chair on it?
Or a Fed Chair whose renewed easy money policies have propelled stocks sky high using the opportunity to jawbone markets higher by promising even more easy money:
