Comments by "Curious Crow" (@CuriousCrow-mp4cx) on "Trump wants to control the US Federal Reserve. But will he?" video.
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I think you're being gentle here, Richard. It's not only the US domestic economy which has skin in the game, but the global economy too, because USD is the global reserve currency, and in effect and practice, the Fed is Lender of Last Resort to the global banking system. Like all central banks since 2008, the Fed already has a credibility issue when it insists that it directly controls interest rates, but in reality are more like the Wizard of Oz, reliant on perception than concrete power. Mainly because the perception of risk differs somewhat in the financial markets to that of the Fed. It's not the first time in history this has happened, as Frank L. Baum's satire attests. So the Pull Me, Push You between Powell and Trump is going to be political theatre all over again. Trump thinks he's the Good Guy, and Powell is the Heel, so Trump's going to win this bout? Not really. I think the Bulge Bracket Banks will tag-team with Powell and defeat Trump, whose approval rating is heading where our blood pressure should be - lower.
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