President Trump has stated he made his choice for the next Federal Reserve chairman, but he declined to immediately share his decision.
Speaking with reporters on Sunday, Trump said, “I know who I am going to pick, yeah. We’ll be announcing it.”
When asked if Kevin Hassett, the director of the National Economic Council, was the pick, Trump smiled and added, “I’m not telling you. We’ll be announcing it.”
Trump’s announcement comes ahead of the Fed’s Dec. 10 announcement on whether it would enact another rate cut. Fed Chairman Jerome Powell’s terms comes to an end next May.
It is time for an actual patriot to be Fed Chairman and to stop strangling 65%+ of the US economy that is tied to housing with artificially high rates that don’t seem to be helping America and Americans.
not only is your name cool but you are spot on!
You are incorrect by all economic info Inc what this administration is making difficult to track..
Real estate business is in the toilet. Any move to unstrangle the interest rate would be welcome.
Interest rates are a 2 edged sword. There are those of us who pay interest and those of who depend on interest payments. Which group do you want to hurt?
To bad for the those profiting on high interest rates. Time for real workers to have a chance. Our money spins around the economy more.
Neither the Fed nor the Chairman determine rates. He can lower the cost of borrowing between banks, but the Bond Market determines rates for mortgages, etc.
END the FED…
PERIOD!
If Trump is picking this person, you may rest assured he/she will be a Trump lackey, a liar and most likely inept and a crook.
The role, or duty of the FED is NOT about getting mortgage rates low. Period.
There’s no responsibility in the their duties to provide low mortgage rates. The FED has the grander responsibility for oversight of the ENTIRE US economy. Mortgage rates are simply a “piece” of that story
Their responsibility is to keep the overall US economy stable. On solid ground. Meaning full employment, and financially solid (solvent) banks and financial institutions.
What happens in that process does impact mortgages. But it’s not their purpose. But it is secondary piece of the picture.
The whining about mortgage rates is like a fan complaining to a the head coach of an NFL team: “I don’t like the cheerleaders.” The coach (Jerome Powell) is thinking I’m just focused on winning (keeping the US economy healthy); the cheerleaders (mortgage rates) are not really a big concern.
They (the FED) must, by design and assigned duty, stay focused on winning the bigger battles. Full employment and a stable banking system.