Trump needs a market scape goat

Trump needs a market scape goat

By BEN WHITE (; @morningmoneyben), AUBREE ELIZA WEAVER (; @AubreeEWeaver) 11/21/2018 08:00 AM EST

Excerpt below:

Another brutal day on Wall Street and President Trump once again decided to blame Fed Chair Jay Powell rather than face the reality that the U.S. economy is likely to slow down next year as the tax cut stimulus fades, a trade war with China looms and the deficit spikes higher with demand for U.S. debt declining.

The Fed is doing exactly what it’s supposed to at a time of very low unemployment and rising wages. And every time Trump bashes the central bank he makes it LESS likely that the Fed will look at sluggish growth numbers and sagging stocks and decides to slow down its pace of rate hikes. The central bank cannot allow itself to be viewed as caving to Trump or it will erode its independence and lose credibility with markets.

Cumberland-Advisors-David-Kotok-Trade-War-Quote-20181121

Cumberland’s David Kotok emails: “Washout comes at any time in panic selling. This is what one gets from a Trade War. Thank you Peter Navarro. Now up to POTUS to make a truce in Buenos Aires. Then everyone wins. No truce, everyone loses more.”

Read more quotes from “Trump needs a market scape goat” at POLITICO


Links to other websites or electronic media controlled or offered by Third-Parties (non-affiliates of Cumberland Advisors) are provided only as a reference and courtesy to our users. Cumberland Advisors has no control over such websites, does not recommend or endorse any opinions, ideas, products, information, or content of such sites, and makes no warranties as to the accuracy, completeness, reliability or suitability of their content. Cumberland Advisors hereby disclaims liability for any information, materials, products or services posted or offered at any of the Third-Party websites. The Third-Party may have a privacy and/or security policy different from that of Cumberland Advisors. Therefore, please refer to the specific privacy and security policies of the Third-Party when accessing their websites.

Sign up for our FREE Cumberland Market Commentaries

Cumberland Advisors Market Commentaries offer insights and analysis on upcoming, important economic issues that potentially impact global financial markets. Our team shares their thinking on global economic developments, market news and other factors that often influence investment opportunities and strategies.