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Neither Trump, Nor Powell, Know What Interest Rates Should Be End the Fed


Peppered within this week’s headlines was President Trump’s on-again, off-again firing of Federal Reserve Chairman Jerome Powell. The key variable that is never mentioned, however, is that neither Trump, nor Powell have any idea what interest rates should be. Powell’s job shouldn’t exist in the first place. Markets determine prices; not the president, and not something called a “Federal Reserve Chairman.”

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