What the Fed does next on interest rates matters, but their next move isn’t so clear

, Bitcoin News

U.S. Federal Reserve chair Janet Yellen.

As is his wont, Donald Trump was once again making headlines this month with a bold and provocative declaration. In a television interview, Trump said that if he were elected president, he would replace the unacknowledged legislator of the economic world, Federal Reserve Chair Janet Yellen. She’s a Democrat, and Trump said it would be “appropriate” for him to appoint a Republican.

Not that he disagreed with her policies. Describing himself as “the king of debt” — a moniker not altogether unearned, given The Donald’s penchant for borrowing and re-engineering debt in his business career — Trump said that he favoured the Fed’s current low-interestrate stance, and that the United States needs to “very careful” with monetary policy.

Of course, Trump got flack for this, in part because ousting the Fed chair would go against recent presidential behaviour. Democrats Bill Clinton and Barack Obama both inherited and then re-nominated Republican chairs (Alan Greenspan and Ben Bernanke, respectively).


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