You are here
Trump's attack on Fed crossed 'red line' for markets, could weaken dollar
By Patti Domm
CNBC, New York
Monday, August 20, 2018
The dollar fell to the day's lows and could continue to weaken after President Donald Trump said he disagrees with the Fed's decision to raise interest rates and that the Fed should do "what's good for the country."
Trump's latest criticism of the Fed, in an interview with Reuters, comes four days before Friday's much anticipated speech by Fed Chair Jerome Powell at the Fed's annual Jackson Hole Symposium. ...
... Dispatch continues below ...
Goldco Is America's No. 1 Gold IRA Provider
Goldco Precious Metals was founded by Trevor Gerszt in 2006 with a mission to help Americans protect their retirement accounts from market volatility and inflation by adding precious metals like gold and silver.
Experts predict that we are headed toward another economic crash like the one in 2008. If you aren't prepared, your retirement savings could vanish. At Goldco we take the time to understand our customers' investment goals and objectives and give them the resources to feel confident that their money will be there for them when they need it.
To learn more about adding gold and silver precious metals to your retirement accounts, please visit Goldco here:
"The market is going to react to it, not so much in the fed funds futures on the idea that the Fed will change its view, but on the dollar because of the idea of Fed encroachment," said Marc Chandler, head of foreign exchange strategy at Brown Brothers Harriman. "I'd say the dollar is already correcting, and Trump's comments likely prevent it from having a turnaround Tuesday." ...
Trump has previously made it clear he does not like a strong dollar because it hurts U.S. exports. In the Reuters interview, he repeated claims that China artificially lowered its currency and that Europeans were manipulating the euro.
"This is about using the presidency as a bully pulpit," said Chandler. "This is like a red line for the market — the Fed's independence."
... For the remainder of the report:
https://www.cnbc.com/2018/08/20/trumps-attack-on-fed-crossed-red-line-fo...
* * *
Join GATA here:
New Orleans Investment Conference
Hilton New Orleans Riverside Hotel
Thursday-Sunday, November 1-4, 2018
http://neworleansconference.com/wp-content/uploads/2018/07/NOIC_2018_Pow...
* * *
Help keep GATA going:
GATA is a civil rights and educational organization based in the United States and tax-exempt under the U.S. Internal Revenue Code. Its e-mail dispatches are free, and you can subscribe at:
To contribute to GATA, please visit:
