Trump Hates Powell’s Guts, Says He’s ‘Not Even a Little Bit Happy’ With Him

Let’s have some intellectual honesty here and admit that Trump was railing on the Fed for having low interest rates during the Obama era. Now with the economy slowing and the Fed doing what the Fed likes to do (burn the economy, leaving no survivors), Trump is using Fed’s Powell as a scapegoat.

Trump told the Post, “So far, I’m not even a little bit happy with my selection of Jay,” who he appointed earlier this year. The president told the newspaper that he thinks the U.S. central bank is “way off-base with what they’re doing.”

The Federal Reserve has been raising interest rates as the U.S. economy picks up, but the Post reported that Trump argued these rate hikes were hurting the U.S. economy. The Post also said he blamed the Fed for the recent stock market sell-off and General Motors’ plans to close plants and cut more than 14,000 jobs.

“I’m doing deals and I’m not being accommodated by the Fed,” Trump told the Post. “They’re making a mistake because I have a gut and my gut tells me more sometimes than anybody else’s brain can ever tell me.”

Understand something and listen to me very carefully. This is retard-speak. People who talk about their guts over their mind or facts are being intellectually idiotic. This is dangerous thinking, based upon ancient hunches and ‘feelings.’ Fuck your feelings, Mr. President. All you have to do is cite slowing economic growth and you’d make a fine argument against rate hikes. Now with this gut talk shit, Fed’s Powell is assuredly going to hike rates and shit on Trump’s face with his dot plot schemes.

How should we view this nonsense from an investors standpoint?

Higher rates in the interim. After the shine from the mean reversion frays, expect downward pin action into the New Year’s. That’s just how it’s going to be. Fuck your hedge fund.

Nite.

INSANE PRESIDENT UPDATE:

Trump considered reappointing Yellen to the post, and she impressed him greatly during an interview, according to people briefed on their encounter. But advisers steered him away from renominating her, telling him that he should have his own person in the job.

The president also appeared hung up on Yellen’s height. He told aides on the National Economic Council on several occasions that the 5-foot-3-inch economist was not tall enough to lead the central bank, quizzing them on whether they agreed, current and former officials said.