Never underestimate the ability of Americans to bounce back from hard economic times.
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President Trump is not happy with the Federal Reserve. In an interview with CNBC, he said that while he put a “very good man” at the helm of the central bank (Jerome Powell), he’s “not thrilled” that interest rates are rising. The remarks got a lot of attention, because for the past twenty years or so, presidents and administration officials have abstained from commenting on the Fed’s monetary policy to preserve the central bank’s independence from partisan pressure.(For more on the complicated relationship between the Fed and Congress, check out my interview with author and Fed expert, Mark Spindel.)
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