Thursday, 19 September, 2019

Top White House adviser says Trump still backing Moore

BP_Federal White House investigates Trump Fed pick's history of sexist comments
Russell Knight | 01 May, 2019, 05:26

Data released Monday by the U.S. Department of Commerce showed that excluding the volatile energy and food prices, the core personal consumption expenditures price index, a preferred inflation gauge by the Fed, was up 1.6 percent year-over-year in March, below the Fed's target inflation rate of 2 percent.

"China is adding great stimulus to its economy while at the same time keeping interest rates low", Trump said, referring to steps China took in recent months to fight a sharp economic slowdown.

In a pair of tweets, he pushed for the fed to drop rates by one point, implement more money-printing quantitative easing, and compared the USA economic performance to that of China's.

"Yes, we are doing very well at 3.2 percent GDP, but with our wonderfully low inflation, we could be setting major records &, at the same time, make our National Debt start to look small!" The president has been harshly critical of Fed Chairman Jerome Powell and the Fed's credit tightening, including a string of four rate hikes a year ago.

His move comes as fed policy makers - the Federal Open Market Committee - meet Tuesday and Wednesday to decide on where to set borrowing costs. The Bloomberg dollar index maintained a decline of around 0.2 percent.

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Damond, who had moved to the US a few years earlier, was an Australian yoga teacher, counselor and meditation coach. Noor is a Somali-American whose hiring in 2015 was trumpeted by city leaders seeking to diversify the police force.

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This new " sharing economy " creates new incentives for drivers to share useful information with other cars, Vickers said. The initiative comes via a partnership with the non-profit IOTA Foundation , Jaguar Land Rover said Monday.

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Some rural communities were reduced to mounds of jumbled wood, with only the occasional structure and coconut tree left standing. Images shared by OCHA showed rows of wooden houses, separated by sandy paths, that had been nearly completely flattened.

There are now two vacancies on the seven-member Fed board, and nominations have to be approved by the Senate. American and Chinese officials are meeting in Beijing this week for the latest round of talks to end the trade war between the world's two biggest economies.

Trump's other candidate for the Fed's board, Herman Cain, withdrew from the running last week after several senators made it clear they would block the former pizza magnate as lacking the necessary experience to oversee central bank policy.

One solution, from the president's point of view, is to appoint political loyalists to counterbalance Powell.

The White House said Monday it was reviewing the past writings of Stephen Moore, President Donald Trump's nominee to the board of the Federal Reserve, after charges of sexism were leveled at the economist.

Per Politico, Senator Shelley Moore Capito said she has "concerns" about Moore's nomination too. Republicans hold 53 of the 100 seats in the chamber, meaning that if Democrats oppose his selection, as they have suggested they will, he can only afford to lose three Republican votes.

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