Federal Reserve Chairman Jerome Powell said that while economic fundamentals are still strong, the coronavirus poses an evolving economic risk.
The Trump economy is finally kicking in.
After increasing steadily during the Obama years, the stock market declined substantially in 2018. Many economic experts say that this is a forecast of troubles ahead as 2019 might bring declining economic growth and possibly a recession. It may also bring the end of Donald Trump‘s reign as leader of the free world.
Treasury Secretary Steven Mnuchin made a bad stock market situation worse over the weekend, and now he may be the next Trump cabinet member to receive a tweet from the president saying “you’re fired.”
Yesterday Bloomberg News revealed the real reason that Donald Trump wants to fire Jerome Powell, the chairman of the Federal Reserve. It’s not that the Fed’s interest rate increases are hurting the U.S. economy or causing stock market declines. It’s that they are costing Donald Trump money in his personal business.
President Donald Trump is considering firing the chairman of the Federal Reserve because of his decision to raise interest rates, according to a new report from Bloomberg published shortly before midnight.