Trump’s attack on Fed crossed ‘red line’ for markets, could weaken dollar
“The dollar slipped to its low of the day after President Donald Trump again criticized the Fed for raising interest rates and said it should do what’s good for the country. The comment was viewed as a ‘red line’ for markets since it encroached on the independence of the Fed, said one strategist. Trump’s comments come just four days ahead of the important Fed symposium at Jackson Hole where Fed Chair Jerome Powell is set to speak.”
USAGOLD note: Much depends on Jerome Powell’s reaction to the president’s remarks and that is an unknown at this point in time. Most certainly theories will abound between now and when the Fed chairman speaks in Jackson Hole on Friday.