‘Stupid’ Powell is the ultimate lame duck central banker
US Federal Reserve chairman Jerome Powell was smart to hold rates. But only Donald Trump’s Fed call matters now, and it could make all hell break loose.
The most important thing anyone said about the US Federal Reserve and the path of interest rates came hours before Fed chairman Jerome Powell even announced his latest decision.
“We have a stupid person, frankly, at the Fed,” US President Donald Trump said during a press conference on Wednesday night. “He probably won’t cut today. Maybe I should go to the Fed. Am I allowed to appoint myself at the Fed?”
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James Thomson is senior Chanticleer columnist based in Melbourne. He was the Companies editor and editor of BRW Magazine. Connect with James on Twitter. Email James at j.thomson@afr.com
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