CHINA/ECONOMY/FEDERAL RESERVE/TRUMP AS PRESIDENT: “President Donald Trump on Thursday [10-31-19] said the U.S.’ own central bank poses a bigger threat to the economy than China because it is keeping interest rates at levels that are higher than in other countries…The central bank on Wednesday [10-30-19] cut interest rates for the third time since July, but Powell signaled that it is done reducing borrowing costs for now, until there’s evidence the economy really needs yet another stimulus. That angered Trump, who has loudly called for rates to drop to zero — or even lower — to boost the economy as he heads into his reelection campaign. Trump’s missives on Thursday seemed to answer his own question from a couple of tweets in August. ‘My only question is, who is our bigger enemy, Jay Powell or Chairman Xi?’ he asked back then. (His tweet today downgraded Powell from ‘enemy’ to ‘problem.’)”
–Victoria Guida, “Trump: Fed is a bigger problem for economy than China,” Politico, October 31, 2019 12:24 pm