I posted this odd remark earlier: Says Trump administration is concerned about economic growth, less concerned about inflation at the moment
This is the full quote:
- "Although we respect the Fed's independence, we are concerned about economic growth. We're doing everything we can -- whether it's tax reform, whether it's regulatory relief, whether it's trade -- to create economic growth. And we're less concerned about inflation at the moment"
So I asked in my earlier post
- Is the administration leaning on the Federal Reserve already to halt the rate rises?
Looking at the full quote, the answer is clearly Yes they are.
- "Although we respect the Fed's independence" actually means we do not respect the Fed's independence and they should not be hiking rates.
I guess powerful property developers don't like rate rises and will do what they can to prevent them.
The USD took a tumble, here's USD/JPY (and the USD dropped against others too):
