Trump says he has no plans to fire Federal Reserve Chair Powell

Bloomberg have snagged the remarks from Trump, interview on Bloomberg TV:

• Mr T says if he is elected President he would not be looking to remove Powell before Powell’s term end
• says Trumponomics is low interest rates and tariffs
• says the Fed should not cut rates prior to the election

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Wow … I had what I thought was a tin-hat theory on why the Fed wouldn’t cut prior to the election:

• why cut in September when they could cut on November 7 and provide a gift to the new guy

Looks like my tin hat was right!

This article was written by Eamonn Sheridan at www.forexlive.com.