Trump: "Fed Like a Powerful Golfer Who Can't Putt"

Trump lashed out at the Fed again today saying the only problem with the economy is the Fed.

Meanwhile, let's check in on the PPT.​

Nothing Out of the Ordinary

Bloomberg reports U.S. Regulators Tell Mnuchin Nothing Is Out of Ordinary in Markets

Top U.S. financial regulators assured Treasury Secretary Steven Mnuchin during a hastily organized call Monday that they are seeing nothing out of the ordinary in markets, according to a person with knowledge of the discussion, despite a recent stock slump that many traders tied to the U.S. government shutdown and turmoil emanating from the Trump administration.

The call with the President’s Working Group on financial markets, a move that appeared designed to calm nerves, capped a chaotic five days that started with Defense Secretary Jim Mattis announcing his resignation and culminated with Bloomberg News reporting Friday evening that President Donald Trump was discussing firing Federal Reserve Chairman Jerome Powell. The Standard & Poor’s 500 Index slipped by as much 2 percent on Monday.

Damn PPT Refuses to Do Its Job

Clearly, the PPT does not know how to putt either. So sad.

Mike "Mish" Shedlock

Comments (22)
No. 1-8
stillCJ
stillCJ

Editor

There's blood in the streets! Must be a good time to buy. Market closes at 1pm EST today.

Schaap60
Schaap60

Overvalued markets can go down? Who knew?

Sechel
Sechel

So let's see who didn't Trump blame today. Marketwatch headline today:

Trump Today: President blames Democrats for shutdown, Fed for Wall Street selloff and unwilling ‘allies’ for Syria pullout

And Francine McKenna tweeted an interesting story about Trump's potential exposure to rising rates assuming the financial genius didn't hedge his exposure.

Ted R
Ted R

The stock market is turning into a damn disaster. Somebody better figure something out fast before the Dow starts dropping in 1000 point chunks.

aqualech
aqualech

Does Trump really believe DJI swings = economy health?