I am pleased to announce that I am nominating Kevin Warsh to be the CHAIRMAN OF THE BOARD OF GOVERNORS OF THE FEDERAL RESERVE SYSTEM. Kevin currently serves as the Shepard Family Distinguished Visiting Fellow in Economics at the Hoover Institution, and Lecturer at the Stanford Graduate School of Business. He is a Partner of Stanley Druckenmiller at Duquesne Family Office LLC. Kevin received his A.B. from Stanford University, and J.D. from Harvard Law School. He has conducted extensive research in the field of Economics and Finance. Kevin issued an Independent Report to the Bank of England proposing reforms in the conduct of Monetary Policy in the United Kingdom. Parliament adopted the Report's recommendations. Kevin Warsh became the youngest Fed Governor, ever, at 35, and served as a Member of the Board of Governors of the Federal Reserve System from 2006 until 2011, as the Federal Reserve's Representative to the Group of Twenty (G-20), and as the Board's Emissary to the Emerging and Advanced Economies in Asia. In addition, he was Administrative Governor, managing and overseeing the Board's operations, personnel, and financial performance. Prior to his appointment to the Board, from 2002 until 2006, Kevin served as Special Assistant to the President for Economic Policy, and Executive Secretary of the White House National Economic Council. Previously, Kevin was a member of the Mergers & Acquisitions Department at Morgan Stanley & Co., in New York, serving as Vice President and Executive Director. I have known Kevin for a long period of time, and have no doubt that he will go down as one of the GREAT Fed Chairmen, maybe the best. On top of everything else, he is "central casting," and he will never let you down. Congratulations Kevin! PRESIDENT DONALD J. TRUMP
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"Too Late" MUST CUT INTEREST RATES, NOW, AND BIGGER THAN HE HAD IN MIND. HOUSING WILL SOAR!!! President DJT
"If the Fed had followed what we published, they would have raised rates in early 2021. The entire Organization is broken. It needs to be fixed. They need to use modern sources of information.We strongly disagree with Ken Griffin. We think Incompetence is more important than to defend theoretical independence. He ("Too Late!") has done a terrible job since he adapted a two target? It's too low, it's too rigid, they followed Data that's years delayed. They don't believe that money supply matters, it's like the Pope not believing in Jesus. We think that's a much bigger problem than this notion that they are dependent, or they're not independent." Jay Hatfield Infrastructure Capital Advisors, CEO & CIO, on Maria B. "Chair Powell was late to raise rates, they need to come down here, there's no question about it. He's dragging his feet. The Feds going to come down here 50, 75, Maybe 100." Greg Faranello, American Securities on Maria B.
Jerome "Too Late" Powell must NOW lower the rate. Steve "Manouychin" really gave me a "beauty"when he pushed this loser. The damage he has done by always being Too Late is incalculable. Fortunately, the economy is sooo good that we've blown through Powell and the complacent Board. I am, though, considering allowing a major lawsuit against Powell to proceed because of the horrible, and grossly incompetent, job he has done in managing the construction of the Fed Buildings. Three Billion Dollars for a job that should have been a $50 Million Dollar fix up. Not good!
It is my Great Honor to announce that I have chosen Dr. Stephen Miran, current Chairman of the Council of Economic Advisors, to serve in the just vacated seat on the Federal Reserve Board until January 31, 2026. In the meantime, we will continue to search for a permanent replacement. Stephen has a Ph.D. in Economics from Harvard University, and served with distinction in my First Administration. He has been with me from the beginning of my Second Term, and his expertise in the World of Economics is unparalleled — He will do an outstanding job. Congratulations Stephen!
STRONG DISSENTS ON FED BOARD. IT WILL ONLY GET STRONGER! "TOO LATE!"
2Q GDP JUST OUT: 3%, WAY BETTER THAN EXPECTED! "Too Late" MUST NOW LOWER THE RATE. No Inflation! Let people buy, and refinance, their homes!
Getting ready to head over to the Fed to look at their, now, $3.1 Billion Dollar (PLUS!) construction project. Also present will be Fed Chair Jerome Powell, Senator Tim Scott, Senator Thom Tillis, OMB Director Russ Vought, Chairman of Fannie Mae and Freddie Mac, Bill Pulte, my Appointees to the National Capital Planning Commission, James Blair and Will Scharf, and various other construction professionals.
âToo Lateâ Jerome Powell, of the Fed, will be in Congress today in order to explain, among other things, why he is refusing to lower the Rate. Europe has had 10 cuts, we have had ZERO. No inflation, great economy - We should be at least two to three points lower. Would save the USA 800 Billion Dollars Per Year, plus. What a difference this would make. If things later change to the negative, increase the Rate. I hope Congress really works this very dumb, hardheaded person, over. We will be paying for his incompetence for many years to come. THE BOARD SHOULD ACTIVATE. MAKE AMERICA GREAT AGAIN!
âToo Lateâ at the Fed is a disaster! Europe has had 10 rate cuts, we have had none. Despite him, our Country is doing great. Go for a full point, Rocket Fuel!
I am pleased to announce that Michelle âMikiâ Bowman will be the Federal Reserveâs new Vice Chair of Supervision. Miki has been serving honorably on the Fedâs Board of Governors since 2018, and has great expertise dealing with Inflation, Regulation, and Banking. Our Economy has been mismanaged for the past four years, and it is time for a change. Miki has the âknow-howâ to get it done. I am confident we will achieve Economic heights never before seen in our Nationâs History. Congratulations Miki!
INFLATION is BACK—and RAGING! The Fed will never be able to credibly lower interest rates, because they want to protect the worst President in the history of the Untied States!
The Federal Reserve should get our interest rates down to ZERO, or less, and we should then start to refinance our debt. INTEREST COST COULD BE BROUGHT WAY DOWN, while at the same time substantially lengthening the term. We have the great currency, power, and balance sheet.....
The Euro is dropping against the Dollar “like crazy,” giving them a big export and manufacturing advantage...and the Fed does NOTHING! Our Dollar is now the strongest in history. Sounds good, doesn’t it? Except to those (manufacturers) that make product for sale outside the U.S.
....WHERE IS THE FEDERAL RESERVE?
“The Fed has got to do something! The Fed is the Central Bank of the United States, not the Central Bank of the World.” Mark Grant @Varneyco Correct! The Federal Reserve acted far too quickly, and now is very, very late. Too bad, so much to gain on the upside!
....Fed: There is almost no inflation!
I am pleased to announce that it is my intention to nominate Christopher Waller, Ph. D., Executive VP and Director of Research, Federal Reserve Bank of St. Louis, Missouri, to be on the board of the Federal Reserve....
....Think of what it could have been if the Fed had gotten it right. Thousands of points higher on the Dow, and GDP in the 4’s or even 5’s. Now they stick, like a stubborn child, when we need rates cuts, &, easing, to make up for what other countries are doing against us. Blew it!
....up like a rocket if we did some lowering of rates, like one point, and some quantitative easing. Yes, we are doing very well at 3.2% GDP, but with our wonderfully low inflation, we could be setting major records &,, at the same time, make our National Debt start to look small!
Today, it was my pleasure and great honor to announce my nomination of Jerome Powell to be the next Chairman of the @FederalReserve. https://t.co/6aDuRy3zws
The Audacity of @BarackObama--the Federal Reserve purchased 61% of all debt issued by Treasury in 2011. Killing our children's future.
The Fed should not do QE3. Neither the economy nor the dollar can withstand another round of artificial liquidity.
The Fed must be reined in. In 2011, the Fed bought 61% percent of US debt--even more than 2008. Unsustainable! http://t.co/VLYqayZc
The Fed is considering issuing even more US bond debt into the market. Not good!
The Fed's reckless monetary policies will cause problems in the years to come. The Fed has to be reined in or we will soon be Greece.
The Fed should not bail out the EU. Europe's financial mess is their problem, not our problem!
Printing money is neither a short or long term solution to our country's economic woes. The Fed is destroyin… (cont) http://t.co/ndVdVB88