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Former US Treasury Secretary: Trump Criticizes Powell to Shift Blame, Next Fed Chair Likely Mainstream
Summary: In a recent statement, former US Treasury Secretary Summers pointed out that Trump's frequent attacks on Fed Chair Powell for refusing to cut interest rates are actually an attempt to pre-emptively blame the Fed for future economic downturns, shifting responsibility away from his own policies. Despite Trump's high-profile pressure, Summers predicts that he will ultimately ...
In a recent statement, former US Treasury Secretary Summers pointed out that Trump's frequent attacks on Fed Chair Powell for refusing to cut interest rates are actually an attempt to pre-emptively blame the Fed for future economic downturns, shifting responsibility away from his own policies. Despite Trump's high-profile pressure, Summers predicts that he will ultimately nominate a respected mainstream figure to replace Powell in order to avoid market turmoil. (Wall Street Journal)
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Link: Former US Treasury Secretary: Trump Criticizes Powell to Shift Blame, Next Fed Chair Likely Mainstream [Copy]
