Article Image
News Link • Stock Market

Trump Admits It's The Fed's "Job" To Push Stocks Higher

• https://www.zerohedge.com, By Tyler Durden

But the incongruity disappears when one considers that the central bank's "dual mandate" simply masks its true purpose: To levitate asset prices and ensure that wealthy Americans get richer, while (at least for now) averting an all-out pension fund crisis.

Though the central bank's "third mandate" is rarely, if ever, directly acknowledged, President Trump violated this convention in a tweet on Sunday, when he declared that the central bank, had it "done its job properly" would have sent the Dow another 5,000 to 10,000 points higher, and that GDP growth would have been "well over 4%".

In essence, this is the president admitting that the Fed's only job is to push stocks higher, damn the deteriorating fundamentals that make leave valuations increasingly divorced from reality.

Join us on our Social Networks:

 

Share this page with your friends on your favorite social network:


Stop Wars T-shirt at The Bitcoin Store