Economics
Trump Roars, Fed Yawns and Markets Bet on Powell's Credibility
- Fed’s 2018 rate hikes have been well-received by investors
- White House picks for Fed don’t line up with Trump barbs
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President Donald Trump’s 24-hour bashing of the Federal Reserve is unlikely, for now, to shake the central bank’s standing among its two key constituencies that matter more: financial markets and Congress.
“If anything, the Fed has been gradual and their actions have been well received thus far,” said Vincent Reinhart, chief economist at Standish Mellon Asset Management Co. and a former Fed official. “To criticize what the Fed has done is out of line with how the market has reacted to what the Fed has done.”