Fed Governor Christopher Waller Just Drove a Dagger Through President Donald Trump's Demand for Lower Interest Rates
Members of the Federal Open Market Committee (FOMC), including Fed Board Governor Waller, have begun indirectly jabbing back at the president's frequent calls for lower rates.
Overview
Despite a brief period of heightened volatility in March, it's shaping up to be another stellar year for Wall Street and investors. The iconic Dow Jones Industrial Average (DJINDICES: ^DJI) blasted to an all-time high earlier this month, while the benchmark S&P 500 (SNPINDEX: ^GSPC) and growth-stock-propelled Nasdaq Composite (NASDAQINDEX: ^IXIC) accomplished similar feats in early June.
But things may not be as rosy as the stock market's major indexes imply. The U.S. economy is contending with two concurrent price shocks, both courtesy of decisions made by President Donald Trump, and investors are dealing with ongoing strife between the president and the Federal Reserve.
Details
Although Trump has repeatedly pushed the Federal Open Market Committee (FOMC) -- the 12-person body, including Fed Chair Kevin Warsh, responsible for setting the nation's monetary policy -- to slash interest rates, a recent statement by Fed Governor Christopher Waller all but dashed the president's demands (with a catch).
Source
Originally published at www.fool.com.