SMM4, March 3 / PRNewswire-Asianet /-Trump has accused Federal Reserve and Federal Reserve Chairman Powell at three meetings in the past week, saying he is very uncomfortable and blaming US Treasury Secretary Mnuchin for recommending Powell as chairman of the Federal Reserve, according to sources.
Two weeks ago, Trump announced that he would nominate Stephen Moore to the Federal Reserve Board. Last week, Kudlow, director of the White House Economic Committee, said the Fed should immediately cut its benchmark interest rate by 0.5 percentage points, which coincides with Moore's view, which is exactly what Trump wants to see.
Trump is a businessman and is particularly sensitive to trade issues, and his political views have a lot to do with his views on trade issues. He believed that the trade deficit was a loss to the United States, so he tried to wipe out the trade deficit, to weaken the US dollar by cracking down on the Federal Reserve on the one hand, to stimulate exports, and to renegotiate trade agreements with trading partners on the other. Let opponents compromise, so that the U. S. trade deficit reduced or even turned into a trade surplus. He is very good at negotiating, so as long as he goes to the negotiating table, he will play at home everywhere. He has talked to his neighbors Canada and Mexico, North Korea and China, and then he has to talk to Japan and the European Union. This shows how disgusted he is against Obama's policies. After he takes office, he has to push everything down and start all over again. It gives the impression that he is either retreating or negotiating.
Powell is really suffering. Other Federal Reserve chairmen are doing a good job. He is either bombarded by Trump or threatened by Trump. Such a strange president has just been bumped into by him. He said monetary policy would not be influenced by Trump, but would it really not? Is it possible?