It is clear that President Donald Trump oftentimes speaks before he thinks. He just says the first thing that comes to his mind.
Case in point, central banking.
We all know that Trump regrets picking Jerome Powell as head of the Federal Reserve. He bashes him at every opportunity, making us feel sorry for Powell – and that is rare to feel sorry for Fed Chairman.
His latest remarks are odd.
Speaking in an interview with the Fox Business Network, Trump said he would like to trade Powell for Draghi, mainly because the head of the European Central Bank (ECB) wants to introduce additional stimulus in the form of lower interest rates and another round of quantitative easing and pumping money into the economy.
“We should have Draghi instead of the Fed person,” Trump told the business news network.
If he looked at the ECB’s record, he would realize that the European economy has been anemic since the economic collapse.
Powell was right to gradually raise interest rates, but then he tergiversated and crumbled under pressure by the White House.
How about now central bankers and central banks?
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