Another week, another swipe at the Federal Reserve by President Trump in what has become a scarily unsurprising frequent occurrence. Trump tweeted on Sunday specifically citing quantitative tightening for why the Fed has done its job improperly since he appointed current Fed Chair Jerome Powell. He went on to claim that the general market indices should be up an additional 5,000-10,000 points while GDP should have crossed 4% growth instead of its current 3% state.
The tweet comes at a unique time for the president as his two picks for the Fed’s Board of Governors have become increasingly controversial. Stephen Moore, Conservative Heritage Foundation Fellow, and Herman Cain, former Godfather’s Pizza CEO, have faced backlash for their upcoming Senate confirmations. Many claim the two are too politically loyal to the president’s interests, a characteristic often looked down upon in the historically bipartisan Federal Reserve.