Fx trading news: Trump,Do not speak badly about Powell for two months!


2020-03-17 13:24      from:CAPSTONE    author:Jack

Capstone forex trading news:According to CNBC reports, US President Trump said at a local news conference on Sunday that he was "very happy" that the Fed has cut interest rates, and the market should be excited about the Fed's actions. In addition, he also changed his previous critical attitude towards the Federal Reserve and expressed his welcome to the Federal Reserve's emergency rate cut. He also said that he would not say bad things about Powell in the next two months.
On Sunday, Eastern Time, the Federal Reserve reduced interest rates to zero and launched a $ 700 billion large-scale quantitative easing program to protect the economy from viruses. CNBC pointed out that the Fed's emergency cut in interest rates due to the slowdown in economic growth caused by the new crown virus and severe damage to financial markets has been affirmed by Trump.

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Trump made no secret of his joy. He believes that Powell did not choose to complete the interest rate cut + QE in four steps in a long period of time, but chose one step in place will make market participants very excited. Earlier, Trump repeatedly called on the Federal Reserve leadership to reduce interest rates in order to respond to the crisis more effectively.
What you need to know is that Trump just shelled Powell on Saturday, and this attitude change has been quite significant. According to the Wall Street Journal, Trump intensified his criticism of the Federal Reserve on Saturday and said he has the right to fire or demote Powell, although he would not do so. Trump stated at the time:
"So far, Powell has made a lot of bad decisions. The Fed should follow the example of central banks in other countries to lower interest rates."
In response to Trump's criticism, a Fed spokesman did not respond immediately, but no one expected that Powell's response would come so quickly and strongly.
In addition to praising the Fed's rapid response, Trump also called on American citizens not to panic hoard supplies at the White House conference, and there were no problems in the US food supply chain.

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