Watch Live: Fed Chair Powell Explains How He Won’t Meddle In The Election

Watch Live: Fed Chair Powell Explains How He Won’t Meddle In The Election

Tyler Durden

Wed, 09/16/2020 – 14:25

Today is the last FOMC meeting until after the election… begging the question of just how ‘dovish’ will Fed Chair Powell be – to keep the stock market dream alive (and potentially President Trump’s re-election hopes).

Remember, in August 2019, ex-Fed President Bill Dudley made a “modest proposal” in a Bloomberg op-ed in which he advised Powell to take a political stand against enabling Trump’s trade war, and even go so far as to push the economy into a recession to prevent Trump from getting reelected!

Central bank officials face a choice: enable the Trump administration to continue down a disastrous path of trade war escalation, or send a clear signal that if the administration does so, the president, not the Fed, will bear the risks – including the risk of losing the next election.

And the punchline: 

“There’s even an argument that the election itself falls within the Fed’s purview.”

So far Powell hasn’t followed Bill Dudley’s virtue-signaling proposals…

We cannot wait for the Dems to demand a probe into The Fed’s ongoing dovish-tilted decision…

Bloomberg Senior U.S. Economist Yelena Shulyatyeva says the post-FOMC meeting press conference will provide a good opportunity for Fed Chair Powell to clarify how the central bank plans to implement its new average-inflation targeting framework.

Watch Live:

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Author: Tyler Durden