Jose Canseco Has Some Big-League Advice for Trump When It Comes to the Federal Reserve
Former Major League Baseball star Jose Canseco just pitched Donald Trump a game-changing idea for the U.S. economy.
In a tweet to Trump, Canseco suggested that he should assume the mantle of Federal Reserve chair and, in return, stocks would stage a home run, doubling by the end of the Trump's first term. The future of the U.S. central bank under a Trump administration has become a hot-button topic given the president-elect's previous criticism of low interest rates under Chair Janet Yellen.
Canseco also has some choice advice for the investment community, slamming index funds in a rising U.S. rate environment.
The ex-baseball heavy hitter has shared his thoughts on investment and monetary issues on social media before, tweeting in February that the Bank of Japan's "dumb move" to cut rates deeper into negative territory would fail to boost inflation.
Given the newfound intersection between celebrity and U.S. politics, it's not outside the realm of possibility that Trump may play ball by responding on his Twitter account, a development that may exert further political pressure on the Fed. Stranger things have happened this political season, and, in recent weeks, Trump's interventions have proved Twitter is now far from a frivolous platform.