In yet another unprecedented move from our iconoclastic president, President Trump bashed New York Fed President John Williams in a tweet on Friday morning, saying the Fed doesn’t deserve any credit for engineering what has become the longest period of economic expansion in US history.
Yesterday, Williams sent the S&P 500 back into the green after he appeared to suggest that the Fed would deliver the 50 bp rate cut that the market so desperately craves. But to the bulls’ chagrin, the NY Fed soon walked back Williams extremely dovish comments, saying Williams’ words didn’t reflect “potential policy actions” at the FOMC meeting later this month…
To read more visit Zero Hedge.
- UPDATE: FALSE SIGNAL: Corrected By NY Fed…50 Basis Point Cut NOT Necessarily Back On The Table
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