No Vision

100 Basis Points and Perhaps QE

The Wall Street Journal comments Trump Calls for a Big Fed Rate Cut, Again Criticizes Central Bank Chairman.

While the president has blamed the state of the economy on the Fed pushing interest rates too high last year, many in business and at the Fed say Mr. Trump’s own trade policies have triggered market jitters and slowed business investment.

White House and campaign aides acknowledge privately that a recession would threaten Mr. Trump’s 2020 re-election campaign, which has made a booming economy a central selling point. On Tuesday, the White House has arranged a call in which National Economic Council Director Larry Kudlow is expected to reassure state and local officials about the state of the economy.

Asked in an interview on Fox News about possible economic alarm bells, White House counselor Kellyanne Conway on Monday played down the chance of a slowdown.

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“It’s nice to have the mainstream media finally covering the economy, but they only cover it when they can use Sesame [Street’s] Grover word of the day, ‘recession,’ ” she said.

2011 Flashback

"No Recession in Sight": Translating Trump and Kudlow

Today's Trumpian Tweets fit right in with my precious post "No Recession in Sight": Translating Trump and Kudlow.

I doubt it, but perhaps a huge cut would buy a three-month recession delay.

That may or may not be enough time to help Trump in the 2020 election.

Mike "Mish" Shedlock

Powell Calls Rate Cut a "Mid-Cycle" Adjustment

According to Fed Chair Jerome Powell, this may not be the beginning of a rate cut cycle.

Trump Blasts Powell on Rate Hikes, QT, and the Strong Dollar at CPAC 2019

Speaking during the CPAC 2019 conference on Saturday, Trump blasted Fed Chair Jerome Powell on three fronts.

Trump Seeks Cuts and QE; Stocks, Bonds, Gold Reverse on Fed Press Conference.

On Powell's statements at the press conference stocks, the markets reversed. Yesterday, Trump blasted the Fed.

Powell Testifies to Congress: July Rate Cut Odds Jump

Jerome Powell told Congress "Risk that weak inflation will be even more persistent than we currently anticipate."

Powell Says the True Unemployment Rate is Actually 10%

Fed Chair Jerome Powell gave a speech today on the labor force and jobs. Let's tune into the discussion.

Powell Ready to Cut Rates to "Effective Lower Bound" via "Conventional" Policy

Powell gave a speech today showing his resolve to support the markets. He suggested retiring the word "unconventional".

Trickle Down Theory: Powell Chastises Trump, Praises Himself

In a speech today, Fed Chair Jerome Powell took a swipe at Trump, then patted himself and the Fed on the back.

July Rate Cut Odds Still 100%

Despite today's jobs report, Implied July rate cuts odds are still 100% but a second cut is now priced out.