As Powell warns of possible fallout from coronavirus, Trump again criticizes Fed chair

[Yo_Mama_Been_Loggin]

WASHINGTON — Federal Reserve Chairman Jerome Powell warned lawmakers on Tuesday that the coronavirus epidemic sweeping China could pose broader economic risks, even as he signaled that the central bank is comfortable holding interest rates steady for now.

“We are closely monitoring the emergence of the coronavirus, which could lead to disruptions in China that spill over to the rest of the global economy,” Powell told House Financial Services Committee members.

The central bank chief is also set to testify before the Senate Banking Committee on Wednesday.

-snip-

Despite that, Powell has remained the subject of near-constant White House complaints. Trump told Fox Business Network on Monday that “we should have a lower interest rate” and said Powell “let me down. I think he’s done the wrong thing.”

https://www.bizjournals.com/seattle/news/2020/02/11/as-powell-warns-of-possible-fallout-from.html?ana=e_me_prem&j=90473721&t=Morning&mkt_tok=eyJpIjoiT1RkaU9UVTFOMk14TmpZMCIsInQiOiJFVVJnS09nSFJDUXpYRjA3TmVnOFd3QjZSTE13ZFMxczdwS01CTGwxSjNlWGY3Z1FSTjRlWWdJZHJ3N3QxTVNUMGNKNFwvMWNvR1Jpb0Y1S0EwTHI3VlRMcG1Ec1MyVTN1dVYzOTRySnZlTEJQcEwybVFMbWRRSjZ3eEVJa0ZTRXQifQ%3D%3D

So Powell works for you just like AG Barr does.

[marybourg]

1. Sure, if I were a real estate operator,

living on bank loans, I'd want lower interest rates also

[Buckeyeblue]

2. Yep--Trump only tries to help himself

[Wellstone ruled]

3. Caught most of Powell's

testimony. As usual,the rethugs had no clue,and when the Dems asked questions they were not yes or no. Powell knows he has to deal with Grassley,Rubio,and Cruz when it comes to Banking Rules and Regs as well as enforcement issues.

He did issue a warning about the Tax Cuts and the Mega effect on deficits as well as interest rates. Sounded like his argument for recessionary effects to take hold late summer or early fall with a major down turn by the end of Q1 of 2021.

Another interesting possible request was,the Fed May Have to ask Congress for Help monetarily next year do to possible Fed not being able to handle a recession at this time. Congresswoman Porter and Presley made Powell admit the Fed is in Trouble and the Jobs Data is suspect at best.