Tuesday , May 23 2017
Home / Mises Institute USA / Trump Betrays His Base On The Fed

Trump Betrays His Base On The Fed

Summary:
Trump Betrays His Base On The Fed Tags The FedU.S. Economy9 hours agoTho BishopAs Ryan McMaken, among others, noted this week President Donald Trump has seemed to pivot his attention away from his economic legislative agenda and more toward foreign policy matters. Given the legislative frustrations over Obamacare repeal, and his Goldman-led Treasury’s insistence on the sort of revenue-neutral tax reform that may have a hard time getting through a Republican Congress, Trump defenders could place most of the blame for this strategic shift to the political realities of Congress. Today, however, Trump has signaled a retreat from his campaign rhetoric on an issue he has complete control over: whether or not to keep Janet Yellen as Fed chair beyond 2018.During an interview with The Wall Street Journal, Trump was asked if Janet Yellen was “toast.”His response:No, not toast … I like her, I respect her. It’s very early. I do like a low-interest rate policy, I must be honest with you.In terms of his own self-preservation, Trump’s recent comments make perfect sense and reflect signals we have been receiving from Treasury Secretary Steve Mnuchin.It must be pointed out though that Trump made it perfectly clear during the presidential campaign that he understands the Fed’s low-interest-rate policy has very real consequences beyond Wall Street.

Topics:
Tho Bishop considers the following as important:

This could be interesting, too:

Tyler Durden writes Euro Surges After Merkel Says Euro Is “Too Weak”, Blames ECB

Tyler Durden writes In Major Shake Up, Ford Replaces CEO Mark Fields With Jim Hackett Amid Declining Stock Price

William Craddick writes DNC Affiliates Increase Involvement In Seth Rich Case After Wheeler Claims

Tyler Durden writes UK Threatens To Quit Brexit Talks Over Excessive ‘Divorce Payment’ Demands

Trump Betrays His Base On The Fed

  • Trump Betrays His Base On The Fed

Tags The FedU.S. Economy

9 hours ago

As Ryan McMaken, among others, noted this week President Donald Trump has seemed to pivot his attention away from his economic legislative agenda and more toward foreign policy matters. Given the legislative frustrations over Obamacare repeal, and his Goldman-led Treasury’s insistence on the sort of revenue-neutral tax reform that may have a hard time getting through a Republican Congress, Trump defenders could place most of the blame for this strategic shift to the political realities of Congress. Today, however, Trump has signaled a retreat from his campaign rhetoric on an issue he has complete control over: whether or not to keep Janet Yellen as Fed chair beyond 2018.

During an interview with The Wall Street Journal, Trump was asked if Janet Yellen was “toast.”

His response:

No, not toast … I like her, I respect her. It’s very early. I do like a low-interest rate policy, I must be honest with you.

In terms of his own self-preservation, Trump’s recent comments make perfect sense and reflect signals we have been receiving from Treasury Secretary Steve Mnuchin.

It must be pointed out though that Trump made it perfectly clear during the presidential campaign that he understands the Fed’s low-interest-rate policy has very real consequences beyond Wall Street.

Reprinted from The Daily Caller.

Trump Betrays His Base On The Fed
Note: Mises.org are not necessarily those of the Mises Institute.
 .

Add Comment

0 0
Tho Bishop
Tho Bishop is a political consultant for Bishop & Associates in Panama City Beach, Florida.

Leave a Reply

Your email address will not be published. Required fields are marked *