Potential Fed nominee Judy Shelton says she’d seek changes to interest-rate policy

Economist Judy Shelton, a potential nominee to the Federal Reserve, said in an interview that she would bring a “different perspective” to the central bank and press for a change in how it sets interest rates.

Shelton has been interviewed by White House officials for a nomination to the Fed’s board of governors and served as an informal adviser to President Donald Trump’s 2016 campaign. She wrote critically in the weeks before that election about how the Fed’s low rate policies were boosting wealthy investors and corporations at the expense of retirees and working Americans with fixed incomes.

On Tuesday, Shelton said she is no longer concerned about such perils because she believes the administration’s fiscal policies have boosted growth and productivity. “Things have changed,” Shelton said in an interview with The Wall Street Journal, reconciling her earlier views with Trump’s current call for lower rates. She pointed to Trump’s tax and regulatory policies that she said have boosted growth without raising inflation as an example of a much-needed tool for supporting economic growth. Read More @ https://www.marketwatch.com/story/potential-fed-nominee-judy-shelton-says-shed-seek-changes-to-interest-rate-policy-2019-05-21?siteid=rss&rss=1


China Dollar-Loan Market Plunges 62% This Year in Perfect Storm

Dollar loans to Chinese borrowers have cratered this year, thanks to both a decline in demand and increased wariness among lenders amid escalating U.S.-China tensions. Syndicated dollar loan issuance to Chinese borrowers has tumbled 62% from the start of the year through May 17, to $7.3 billion, according to data compiled by Bloomberg. That’s the lowest level since 2012. “Volume is unlikely to rebound anytime soon,” said Fang Lei, a Hong Kong-based managing director of Asia Pacific debt origination and advisory at Credit Agricole SA. “Some companies are sitting on the sidelines watching the U.S.-China trade war.” Read More @ https://www.bloomberg.com//news/articles/2019-05-21/china-dollar-loan-market-plunges-62-this-year-in-perfect-storm?srnd=markets-vp

We see more risk build up with cheap money still available around the world; stubborn inflation shows signs of worry – the rich becoming richer and the poor becoming poorer. What’s next? Buy Gold and Bitcoin?

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