Sunday, November 13, 2016
Fed is nerdy, geeky, and politically neutral: Policymaker
Leading up to the election President-Elect Donald Trump repeatedly bashed the Federal Reserve and its members. He acused them holding interest rates low for political reasons, and he [Trump] said that Janet Yellen would be replaced upon his arrival in office. Recently after the election San Francisco Federal Reserve Bank President John Williams responded with nuetrality. He said, "We are focused on the economy, focused on achieving our goals; it is not a partisan activity." Williams added that unemployment is staying low and interest rates are slightly rises to the Federal Reserve's goal of 2%.
http://www.cnbc.com/2016/11/10/fed-is-nerdy-geeky-and-politically-neutral-policymaker.html
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It is going to be interesting to see which are going to be the fiscal policies that Trump is going to implement in the economy, and how is the Fed going to react to them to make the economy not suffer big changes. Also it is going to be interesting seeing if Trump is going to be able to control or influence more the Fed by changing Jannet Yellen as the Chairwoman of the Fed.
ReplyDeleteThere is a reason monetary policy and fiscal policy are governed by separate entities. This push from Trump to merge interest based on his personal agenda is simply not the best choice for the future of the modern United States economy. For the U.S. economy to grow and stay healthy for consumers in the long run, it is adamant that the Fed continues to solidify it's role as a check&balance for the country as a whole.
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