As of now, I am in control here, in the White House

CNBC Analyst: Trump Will – and Should – Take Control of the Fed

President Trump Friday doubled down on his assertion that the Federal Reserve needs to stop raising interest rates.

Most analysts are in an uproar. But Richard Bove, Equity research analyst at Hilton Capital Management, write on CNBC’s website that this is only the beginning.

From his piece:

President Donald Trump has multiple reasons as to why he should take control of the Federal Reserve. He will do so both because he can and because his broader policies argue that he should do so. The president is anti-overregulating American industry. The Fed is a leader in pushing stringent regulation on the nation. By raising interest rates and stopping the growth in the money supply it stands in the way of further growth in the American economy.

First, He Can:

The Board of Governors of the Federal Reserve is required to have seven members. It has three. Two of the current governors were put into their position by President Trump. Two more have been nominated by the president and are awaiting confirmation by the Senate. After these two are put on the Fed’s board, the president will then nominate two more to follow them. In essence, it is possible that six of the seven Board members will be put in place by Trump.

The Federal Reserve is no doubt a very valuable institution. But there are seven Articles and 27 Amendments to the Constitution. Not one of them mentions anything about an unelected body called the Federal Reserve.

Here’s some video of Milton Friedman discussing how the Fed caused the Depression.

13 Responses to CNBC Analyst: Trump Will – and Should – Take Control of the Fed

  1. A quick comment-
    Today marks exactly 1 1/2yrs (18 months) since Trump was sworn in.
    For some, it feels like yesterday. For others, it’s been an eternity ago.
    Opportunities for many ‘radical’ changes are ahead of us.

  2. OT, but lest we forget, this week is the 49th anniversary of the moment (11 PM, July 18, 1969) when the Democrat Lion of the Senate, Ted Kennedy, left 28-year old Mary Jo Kopechne to drown in the car he was driving while drunk. He was trying to save his political career, you see.

    “Shortly after leaving a party on Chappaquiddick Island, Senator Edward “Ted” Kennedy of Massachusetts drives an Oldsmobile off a wooden bridge into a tide-swept pond. Kennedy escaped the submerged car, but his passenger, 28-year-old Mary Jo Kopechne, did not. The senator did not report the fatal car accident for 10 hours.)

    https://www.history.com/this-day-in-history/incident-on-chappaquiddick-island

    • “Lion of the Senate” was kind of apropos, in a way.

      I mean, come on: the guy killed without remorse, when he wasn’t mating at will.

  3. Speaking of the Kennedys, I’m reading an compelling and very well researched book about the murder of Marilyn Monroe, and the involvement of Robert Kennedy. There’s no doubt in my mind that Marilyn was murdered because she was on the verge of revealing her affairs with both JFK and RFK.

  4. If he didn’t like rising interest rates, he should reappointed Yellen(as has been the recent precedent), who was much more dovish than Powell. But then again, he wanted to undo everything Obama did, without thinking through the consequences. Long term strategy is not really Trump’s strength. You reap what you sow.

    All indications are Fed will continue to tighten interest rates, ignoring Trump. This is closely watched by all the big banks/traders:
    https://www.cmegroup.com/trading/interest-rates/countdown-to-fomc.html

    • On the contrary, long term strategy IS his
      strength.
      A rate increase now would kill off the gains he has made in the economy, or at the least, slow them down.
      He has set everything in motion to achieve long term goals.

    • To keep Yellen was not an option…. she was not the ‘dove’ you refer to there…. I mean…there were people that thought Hitler was pretty chill too (King Edward, Joe Kennedy, Chamberlain to name a few)…

      Thought I’d use the Hitler thing — everyone else does….

      If you have a problem with that then just call me a nazi (with no information on my background or real beliefs).

  5. Well now, nationalizing the Fed is tantamount to attacking the actual roots of evil, rather than just swinging wildly at the branches.

    Not many things will get a POTUS assassinated faster than threatening the Fed’s debt usury status quo or trying to remove the parasitic Israeli lobby from America’s underbelly.

    God be with you, Mr. President.

    • Not sure how to read that Israeli comment…. tongue in cheek or a dig or something….

      So just to be clear
      Israel has a friend in me…. If you have a problem with Israel — let me know — People have to stand up for Israel because leftist nut jobs in the Democratic Party and other places look at Israel as a problem. Yep they are. A big problem to the rocket lobbing SOBs that neighbor them.

  6. It is an inexplicable phenomenon that many in the DemoCong party & commercial media/entertainment/academia, who reprehensibley lead the charge against Trump & Company (& therefore ‘Israel’) are themselves Semitic. Maybe because Trump appears not to be owned by anyone whether ally or enemy. It does not matter to the Fed as it is now- they finance who/whatever will enrich the powers beyond sensorial analysis. Maybe Trump will attempt what Ron Paul intended to do if he’d been elected President. If so Divine Protection is in order.

  7. […] Trump Will – and Should – Take Control of the Fed For the entire 8 years of the Obama tyranny the fed never raised interest rates from 0%. Not once.They also dumped trillions of taxpayer dollars onto the stock market during the scam known as Quantitative Easing,or QE I,II and III.That was to cover the losses of big banks from bad loans and to make sure the market didn’t tank under the reign of a fraud who didn’t know thing one about economics.Since Trump was elected they’ve raised rates every quarter,in a blatant attempt to put a damper on the roaring economic engine a real businessman has stimulated through tax cuts and the easing of the regulatory burden that retarded economic growth. xxxxxxxxxxxxxxxxxxxxxxxxxxxxx The Federal Reserve is no doubt a very valuable institution. But there are seven Articles and 27 Amendments to the Constitution. Not one of them mentions anything about an unelected body called the Federal Reserve. IF YOU’RE NOT FAMILIAR WITH FRIEDMAN,YOU’LL LIKE THIS. THE MAN WAS FASCINATING. Here’s some video of Milton Friedman discussing how the Fed caused the Depression. https://www.whitehousedossier.com/2018/07/20/cnbc-analyst-trump-control-fed/ […]