And they’re right. You build a bridge out of balsa wood and paper clips and the result is to be expected.
In the latest (so far failed) attempt to calm markets, Bloomberg reports that 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 despite the recent stock slump, citing a person familiar with the discussion.
According to the Bloomberg source, Mnuchin spoke with officials from the Federal Reserve, the SEC, the CFTC, the FDIC and the Office of the Comptroller of the Currency, who in turn briefed Mnuchin on their plans for monitoring markets during the government shutdown, and the state of markets, said the person….
“They Don’t Understand” – Trump Slams Fed As PPT Rescue Attempt Fails
They understand perfectly. When will trump or anyone else point out that imposed economic cycles are part of the central banks’ business model?