Trump targets the FED again
President Donald Trump has recently picked businessman Herman Cain and economist Stephen Moore for FED positions and a long-lasting backlash of concerns regarding frequent intromissions of the current administration on monetary policy independence has reignited. This weekend, the US President targeted the FED again, by tweeting that “if the FED had done its job properly, which it has not, the Stock Market would have been up 5000 to 10000 additional points”. ECB’s President Mario Draghi and IMF’s Managing Director Christine Lagarde have already raised their concerns about this situation. The former emphasized that “Central Banks ought to be left free to choose what is the best way to comply with their mandates”. Additional developments throughout the week, including market reactions, should be closely followed.
On Wednesday, the National Bureau of Statistics of China will release figures on annualized GDP growth with respect to the month of January. Current forecasts point to a 6.3% pace
Also on Wednesday, the National Statistics of the UK will report year on year Consumer Price Index figures relative to March. A 1.6% pace is expected.