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Powell, FOMC Continue to Play Down Future Rate Cuts

To be a “fly on the wall” is such a cliché, and yet for an investor it was so to be desired for the meeting that took place last week between President Donald Trump and Federal Reserve Chairman Jerome Powell. I, and probably every investor in the world, really would have liked to have been a fly on the wall in the White House for that.

The President has taken everyone opportunity to criticize (batter) the Fed chairman for perceived laxity in rate cutting in the face of a global growth slowdown, using some not very kind adjectives in the process. I mean was that meeting “Godzilla vs Mothra” or was it polite? Given the chairman’s generally unflappable demeanor in press conferences, perhaps the President was Godzilla but Powell was probably more like Fred Rogers.

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