Yields, Dollar Slide As Trump Calls For QE4

Before any Fed officials get the idea that Friday’s stronger-than-expected headline jobs number (which, as we pointed out, actually masked signs of pervasive weakness in employment in wage growth) might justify raising interest rates again in the not-too-distant future, President Trump slammed the central bank during comments to a group of reporters in Washington.

Instead of sticking with its “pause”, Trump said the central bank should instead “drop” interest rates, something that markets have already priced in, adding that the central bank has “really slowed” the American economy.

Setting aside the cognitive dissonance between these comments and Trump’s repeated claims that the US economy is doing “really, really well” and that companies are preparing to announce that they’re “coming back” to the US……


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