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Legg Mason: Brandywine - Waging War on the Fed

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10 Dec 2018

Legg Mason: Brandywine - Waging War on the Fed

It was inevitable that President Donald Trump would comment on U.S. monetary policy.

The President has shown little regard for precedent or institutional norms if he sees them as obstructions on the path to realizing a goal. The Trump administration wants to fire things up: animal spirits, productivity, and economic growth. The Federal Reserve (Fed) is leaning the other way. Dress it up anyway you want but the goal of the rate hikes is to slow things down in order to prevent the economy from exceeding its potential and overheating.

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