Trump and Fed Chair Powell could be set on a collision course over interest rates [MSNBC.com]
Sumitomo Mitsui Financial Group Inc Unsponsored American Depositary Shares (Japan) (SMFG)
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Source: MSNBC.com
Jerome Powell and President Donald Trump during a nomination announcement in the Rose Garden of the in Washington, D.C., U.S., on Thursday, Nov. 2, 2017.Andrew Harrer | Bloomberg | Getty ImagesPresident-electShould the economy run hot and inflation flare up again, Powell and his colleagues could decide to tap the brakes on their efforts to lower interest rates. That in turn could infuriate Trump, who lashed Fed officials including Powell during his first term in office for not relaxing monetary policy quickly enough."Without question," said Joseph LaVorgna, former chief economist at the National Economic Council during Trump's first term, when asked about the potential for a conflict. "When they don't know what to do, oftentimes they don't do anything. That may be a problem. If the president feels like rates should be lowered, does the Fed, just for public optics, dig its feet in?"Though Powellbecame Fed chairTrump publicly and aggressivelyberated the chairFed to be independentWhen T
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