Trump:
- Powell will be out soon
- He is going to be out soon anyway
- Europe cut the rates 10 times, we did zero
- People aren’t able to buy houses because this guy is a numbskull
- Powell tried to cut rates just before the election to try to help Kamala
- Rates should be at 1%. And state we are paying 4%
- We are paying over $1 trillion of interest that we have to pay because rates are too high
ON China:
- Xi has invited me to China. Will probably be doing that in the the not-too-distant future.
- The magnets out of China are going very well.
Treasury Sec. Bessent:
- Called for an internal investigation of the Fed
- They should be cutting rates and right now.
- Fed should stay in their lane
To be honest, Powell already called for a full audit of the building, but that was last week. Bessent is one of the candidates to replace Powell before – or after – his term is up. However, you can expect more of the pressure from the Treasury Secretary as he – and the administration – look to own the Fed too.
PS I wonder if there is still meeting for breakfast from time to time?
This article was written by Greg Michalowski at investinglive.com.
