{"id":1003196,"date":"2018-12-18T15:05:48","date_gmt":"2018-12-18T19:05:48","guid":{"rendered":"https:\/\/democrats.org\/?p=1003196"},"modified":"2024-05-23T20:11:58","modified_gmt":"2024-05-23T20:11:58","slug":"white-house-contradicts-itself-on-the-federal-reserve","status":"publish","type":"post","link":"https:\/\/democrats.org\/news\/white-house-contradicts-itself-on-the-federal-reserve\/","title":{"rendered":"White House Contradicts Itself On The Federal Reserve"},"content":{"rendered":"

The White House can\u2019t seem to get anything straight.<\/span><\/p>\n

\n

President Trump and WH adviser Peter Navarro tried to blame the Fed for the stock market\u2019s losing year.<\/p>\n

Peter Navarro<\/a>: \u201cWhite House adviser Peter Navarro told CNBC he thought the Fed was the \u2018predominant factor\u2019 for recent stock market volatility.\u201d <\/span><\/p>\n

\n

Trump<\/a>: \u201cPresident Trump late Wednesday blamed the Federal Reserve for triggering a steep stock sell-off earlier in the day, saying the central bank \u2018is going wild\u2019 with a \u2018ridiculous\u2019 series of interest rate hikes.\u201d <\/span><\/p>\n

\n

BUT\u2026 WH economic adviser Kevin Hassett said Fed policy couldn\u2019t be the factor driving the stock market sell-off.<\/p>\n

Kevin Hassett: \u201cI honestly think that you are right, that the futures markets, if you look at the federal funds futures, have had a pretty clear idea of what the Fed was going to do. And, you know, so that can\u2019t be the thing that\u2019s moving markets.\u201d [Bulls & Bears, Fox Business, 12\/17\/18]<\/span><\/p>\n

President Trump said the Fed should not “go by meaningless numbers.”<\/p>\n

\n

Trump<\/a>: \u201cI hope the people over at the Fed will read today\u2019s Wall Street Journal Editorial before they make yet another mistake. Also, don\u2019t let the market become any more illiquid than it already is. Stop with the 50 B\u2019s. Feel the market, don\u2019t just go by meaningless numbers. Good luck!\u201d<\/span><\/p>\n

BUT\u2026 White House advisers said the Fed should rely on their data.<\/p>\n

\n

Peter Navarro<\/a>: \u201c\u2018We have zero inflation for all practical purposes, so on Wednesday the only argument I am hearing for the Fed to raise rates is that somehow they have to exert their independence from the White House,\u2019 Navarro told CNBC on Monday. \u2018This is a bad argument. I think what the Fed should do is simply do what it says it\u2019s going to do, which is look at the data.\u2019\u201d <\/span><\/p>\n

Larry Kudlow<\/a>: \u201cWhile the president respects the central bank\u2019s independence, he has been suggesting for a while that \u2018the Fed should not be too tight,\u2019 Kudlow said. \u2018Looks like the Fed, on its own making its own decisions based on their data read, it looks like they\u2019re coming to the same conclusion.\u2019\u201d <\/span><\/p>\n","protected":false},"excerpt":{"rendered":"

The White House can\u2019t seem to get anything straight. President Trump and WH adviser Peter Navarro tried to blame the Fed for the stock market\u2019s losing year. Peter Navarro: \u201cWhite House adviser Peter Navarro told CNBC he thought the Fed was the \u2018predominant factor\u2019 for recent stock market volatility.\u201d Trump: \u201cPresident Trump late Wednesday blamed […]<\/p>\n","protected":false},"author":263,"featured_media":0,"comment_status":"closed","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1],"tags":[],"class_list":["post-1003196","post","type-post","status-publish","format-standard","hentry","category-press-release"],"acf":[],"yoast_head":"\nWhite House Contradicts Itself On The Federal Reserve - Democrats<\/title>\n<meta name=\"robots\" content=\"index, follow, max-snippet:-1, max-image-preview:large, max-video-preview:-1\" \/>\n<link rel=\"canonical\" href=\"https:\/\/democrats.org\/news\/white-house-contradicts-itself-on-the-federal-reserve\/\" \/>\n<meta property=\"og:locale\" content=\"en_US\" \/>\n<meta property=\"og:type\" content=\"article\" \/>\n<meta property=\"og:site_name\" content=\"Democrats\" \/>\n<meta property=\"article:published_time\" content=\"2018-12-18T19:05:48+00:00\" \/>\n<meta property=\"article:modified_time\" content=\"2024-05-23T20:11:58+00:00\" \/>\n<meta name=\"author\" content=\"Claire DePree\" \/>\n<meta name=\"twitter:card\" content=\"summary_large_image\" \/>\n<meta name=\"twitter:label1\" content=\"Written by\" \/>\n\t<meta name=\"twitter:data1\" content=\"Claire DePree\" \/>\n\t<meta name=\"twitter:label2\" content=\"Est. reading time\" \/>\n\t<meta name=\"twitter:data2\" content=\"2 minutes\" \/>\n<script type=\"application\/ld+json\" class=\"yoast-schema-graph\">{\"@context\":\"https:\/\/schema.org\",\"@graph\":[{\"@type\":\"WebPage\",\"@id\":\"https:\/\/democrats.org\/news\/white-house-contradicts-itself-on-the-federal-reserve\/\",\"url\":\"https:\/\/democrats.org\/news\/white-house-contradicts-itself-on-the-federal-reserve\/\",\"name\":\"White House Contradicts Itself On The Federal Reserve - 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