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Post by happyhoya1979 on Aug 30, 2019 19:34:13 GMT -5
To revisit Powell's Tuesday statement and the clear choice it presents:
"While monetary policy is a powerful tool that works to support consumer spending, business investment, and public confidence, it cannot provide a settled rule book for international trade."
Monetary policy through the operation of currencies is the very basis of international trade. This statement indicates a cluelessness over the impact of currency prices.
The US needs to weaken the dollar and needs to do so now. The President is on one side and the Fed chair is on the other. In the immortal words of Lincoln "a house divided against itself cannot stand."
Two people in these powerful positions cannot be completely opposed to each other
Now Congress is getting into the fray and rightly so with what is at stake.
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