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Art Cashin: "Powell Will Try To Keep The Market Guessing"
Well ... Individual #1 bitched about Sessions for over a year before getting up the nerve to fire him. So I’m guessing Powell will be around for a few more months. Of course you never can tell what’s coming next with this fella.
The simplest explanation of what the Fed (not just Powell) is doing is adhering to their mandate as best they can. I don't know how anybody can listen to Powell's news conference and come to any other conclusion. The "market" can guess all it wants; that's up to "the market."
Side note: The Fed is doing its job, minus any and all politics. Hard to believe Powell came out of the same candidate universe as Zinke, Pruitt, and DeVos.
He can say what he wants, but at least Powell is doing his job on behalf of the country and has a clue about things he's responsible for. The same can't be said for ..... others in DC.
>> Hard to believe Powell came out of the same candidate universe as Zinke, Pruitt, and DeVos.
cuz he didn't, not at all
Meaning of course, that he was on the lists of the Trumpsters like the Deplorable 3 were, not that he's equivalent to them or any of the others ... which is the point.
He can say what he wants, but at least Powell is doing his job on behalf of the country and has a clue about things he's responsible for. The same can't be said for ..... others in DC.
Let's go back and look at the efforts of the two prior FOMC chief wizards that being uncle Ben and aunt Janet. Now here come a new FOMC chief wizard and upsets the apple cart so to speak. And, yes we probally needed to raise rates and unwind the balance sheet but not at the same time our President decided it was time to do something about the unfair trade practices of China. To me, Mr. Powell should have yielded to the President's wishes since he had engaged China with import tariffs and unfair trade practices. With this, Powell can use all the wordsmithing he wishes ... but, from my thinking, Mr. Powell has not been a team player when it comes to our Country's trade issues against China. If anything, he has hurt the cause with directing the FOMC's rate increase campaign.
Others, may disagree and that is ok by me as we all have our own perspectives on this.
I'm also thinking ... I'll bet President Trump now wishes that he had left aunt Janet in charge. I wonder if he has thought about asking her to return. I'm also thinking she would have done a much better job of reading the data book that Mr. Powell seems to have thrown in the trash can.
Now that things have gotten into a hissy fit Mr. Powell says perhaps we (the FOMC) should try to revist the data book. Hopefully, they can find it.
Comments
Side note: The Fed is doing its job, minus any and all politics. Hard to believe Powell came out of the same candidate universe as Zinke, Pruitt, and DeVos.
cuz he didn't, not at all
Others, may disagree and that is ok by me as we all have our own perspectives on this.
I'm also thinking ... I'll bet President Trump now wishes that he had left aunt Janet in charge. I wonder if he has thought about asking her to return. I'm also thinking she would have done a much better job of reading the data book that Mr. Powell seems to have thrown in the trash can.
Now that things have gotten into a hissy fit Mr. Powell says perhaps we (the FOMC) should try to revist the data book. Hopefully, they can find it.