posted on Feb, 12 2020 @ 04:53 PM
a reply to:
Generation9
During the recent testimony to the House Financial Services Committee DJT tweeted:
"When Jerome Powell started his testimony today, the Dow was up 125, & heading higher. As he spoke it drifted steadily downward, as usual, and is now
at -15. Germany & other countries get paid to borrow money. We are more prime, but Fed Rate is too high, Dollar tough on exports."
Jerome Powell was asked to comment on the tweet:
“I really can’t, I’m not following the market as I sit here answering your questions,” Powell said when asked to comment on the tweet.
So maybe a subtle way of saying the President was following the market too closely and attributing the normal cyclical behavior to Fed control?
If a normal cyclical recession comes later this spring and the stock market crashes just before the election that could be the end of the Republican
presidential leadership.
We were gambling that the softer economic news might be recognized earlier, so that the the markets might correct less than 20% and recover into the
election.
Powell, or at least his advisors who are the masters of global economic cycles probably already know....