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13373455, Trump bullied the Fed chair. Fed chair caved. Market still tanking
Posted by PimpTrickGangstaClik, Sun Mar-15-20 05:38 PM
https://www.cnbc.com/2020/03/15/federal-reserve-cuts-rates-to-zero-and-launches-massive-700-billion-quantitative-easing-program.html
Trump implied he could fire Federal reserve chair Jay Powell yesterday. He was upset that Powell isn't pulling enough levers to boost up the stock market.
Today, Powell dropped a bomb and set rates to 0%.
Futures markets dropped immediately (Dow Jones down 1200 points right now).
All this did is freak people out because big surprise cuts like this don't happen. And it suggested that there is no political independence with our central bank
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