Sam Fleming in Washington
Donald Trump would probably replace Janet Yellen as Federal Reserve chair if he wins the presidential election, the presumptive Republican nominee said on Thursday.
The property developer turned politician told CNBC that Ms Yellen is “not a Republican” and that it would be “appropriate” to put someone new in the position when her four-year term expires in February 2018.
Nevertheless, Mr Trump also said that he agreed with Ms Yellen’s policy of keeping short-term interest rates low, saying that rate increases would push up the dollar and damage America’s competitive position with China, as well as making it harder to service US debt.
“I have nothing against Janet Yellen whatsoever; I think she has been doing her job,” said Mr Trump, describing her as “very capable”. However, he added: “She is not a Republican . . . when her time is up I would most likely replace her because of the fact that I think it would be appropriate.”
https://www.ft.com/cms/s/0/7271d02e-12eb-11e6-91da-096d89bd2173.html#axzz47pDrmj00
“Not a Republican” is an ignorant reason to replace someone.
He never has a plan of what he will do. I guess he does not want the markets to get a whiff of what he will do.
I would have been impressed if he had an intelligent reason for replacing her. Maybe he could have talked about fiscal policy and low interest rates.
One successful hedge fund manager on CNBC pointed out that the market likes continuity. He said that uncertainty will roil the markets. He thought that President Clinton would be better for the financial markets because the they know her, she will not be looking to make big changes.
Bringing his bankruptcy to Washington
“Asked whether the United States needed to pay its debts in full, or whether he could negotiate a partial repayment, Mr. Trump told the cable network CNBC, “I would borrow, knowing that if the economy crashed, you could make a deal.”
Monty Hall of politics “Lets Make A Deal”, the man is just plain crazy!
“If the economy crashed”? That’s not like changing your picnic plans “if it rains.”