Trump Calls Jerome Powell and the Fed "Naive Boneheads"


Trump's attack on the Fed reached a new level today when trump call them all "boneheads".

Economists expect the ECB to cut rates further into negative territory on Thursday.

The Fed is expected to cut rates a quarter of a point on September 18.

In the past week the Fed has jawboned against multiple cuts.

Market participants responded by reducing their bet on a 50 basis point cut a week ago to an 11.2% chance of doing nothing today.

I somehow sense that Trump is not particularly happy about this state of affairs.

There will be more howls tomorrow if the ECB takes the expected rate cut action.

Irony of the Day

Trump is correct. The Fed are proven boneheads. But Trump's requested action would increase the boneheadedness.

Keeping rates too low too long blows bubbles. We we are in the midst.of the third major bubble in 20 years.

Besides, and as I have stated many times, there should not be a Fed in the first place to make such decisions.

Question of the Day

Today it's "Naive Boneheads". What will Trump call the Fed in his next Tweetstorm?

Bonus Poll Question

Did Trump correctly spell the French word naïveté or did someone type that Tweet for him?

Mike "Mish" Shedlock

Comments (22)
No. 1-13

"Did Trump correctly spell the word "naïveté" or did someone type that Tweet for him?" LOL

Country Bob
Country Bob

Well, Trump is right on the first part... the Fed are a bunch of boneheads.

But then Trump is a bonehead to think more price manipulation and more central planning is somehow going to get the economy moving again.

Bonehead leading other boneheads

Below market interest rates are not a solution for too much debt, they are the cause


When the president talks like a Peanuts character.... I guess he does have the correct shape.


Did Trump even know "naivete" was a word?


I am amazed that so many professional grown men, who are likely financially secure for life, put up with this, and don't just give him the finger and leave.