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Markets are “unlikely to give too much weight to this,” UBS Chief Economist Paul Donovan wrote. “U.S. political pressures seem to be increasing — Trump’s approval rating hit an all-time low in the Reuters/Ipsos poll; approval of the president’s handling of the cost of living was 22%.”
Once the funds run dry, many Seeking Alpha readers expect lower benefit payments for some retirees – by means testing or raising the retirement age, a recent poll showed. Others think taxes will be raised to cover existing Social Security obligations.
Powell said he's watching closely on the developments of the Inspector General's investigation. At the last meeting, he said he wouldn't leave the board until the DOJ investigation is "well and truly over." He welcomed the end of the DOJ investigation.
Sen. Elizabeth Warren (D-MA) opposed advancing Warsh's nomination to the Senate, saying that the Trump administration is seeking to take over the Fed. She cited the “bogus” investigation into Powell and President Donald Trump's attempt to fire Fed Governor Lisa Cook.
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