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Yes, and then I heard Liberals saying the stock market was rising because of Obama... saying it took awhile for Obama's policies to kick in.
Yes you have 1k to bet or yes that Trump took credit.
POTUS has little to do with stock market. Personally I do not remember Obama crowing over it. Perhaps it happened but was never much publicized. Trump has crowed about it over and over. Did he have much to do with it? No. Neither did Obama with the big rise during he tenure.
He appointed Yellen who kept interest rates way too low and overheated the market. Blame falls on Obama for the appointment. Thank God Trump has the sense to get rid of her.
The only thing worth debating is whether Obama/Yellen did this intentionally when rates obviously needed to be raised more this past year.
If we had a wiser Fed Chair, this would never have happened.
The Fed Funds Rate is set by the 12 member Open Markets Committe. The chair is 1/12 votes.
Trump has praised Yellen for a steady hand during her tenure.
Trump has taken almost daily credit for the market performance since he was elected in 2016. He also recently predicted it would go to 30,000.
Neither the president or Fed Chair controls markets which are not rational.
Who told Trump and company to enact a large scale corporate and personal tax reform near the top of the cycle?
^^This. We were recovering fine but he pushed it into overdrive. Now everyone is selling and in a panic - and it's not just the US - it's rippling around the world. Rates going up makes it more expensive for businesses to borrow - it hits the building and real estate market especially hard.
She is leaving, and is being replaced by Trump's pick, and the new guy agrees 100% with Yellens policy.
I assume the OP was kidding BTW.
Jerome Powell assumed office on 2/5.
Powell, a Republican, was nominated to the Federal Reserve Board of Governors in 2011 and was confirmed by the Senate. He has been a member of the Fed's Board of Governors since 2012 and has been in full agreement with the Fed's Open Markets Committee determination of Fed Funds Rate as well as Yellon's leadership of all things Fed.
Regardless of what any POTUS or candidate for any office says, this is a true statement and the fact that people believe it and some vote based on it shows how uneducated our people are when they vote.
Markets have cycles that are way more driven by fundamentals than the POTUS.
Yep, interest rates have to increase at some point and it will happen when the economy is in better shape.
Even worse, while Obama enjoyed low interest rates because it wasn't a good economy, those low interest rates kept gov't debt from increasing even more. Obama increase the debt by $10 trillion but Trump inherited Obama's debt, now that interest rates are increasing, gov't debt will increase even more because money is not as cheap as it was during the Obama era.
Congress controls the purse strings.
No matter who was elected in 2008, he would have spent the way out of the Great Recession.
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