Trump Says Yellen Keeping Rates Low To Protect Obama

Let it be no secret that the Obama administration will be leaving poison pills and traps behind should Trump win.

 

Make no mistake, what you saw with the Fed’s September meeting and subsequent (in)decision was an FOMC that simply froze like a deer in headlights. As we’ve documented exhaustively, there are no right answers and Janet Yellen only made it worse by, in Deutsche Bank’s words, “removing the fourth wall” and admitting that the committee is reflexive.

The Fed cannot hike for fear that a soaring dollar will accelerate EM outflows and plunge the world’s most important emerging economies into chaos.

AP NewsBreak: US weighing steep nuclear arms cuts

The Obama administration is weighing options for sharp new cuts to the U.S. nuclear force, including a reduction of up to 80 percent in the number of deployed weapons, The Associated Press has learned.

Even the most modest option now under consideration would be an historic and politically bold disarmament step in a presidential election year, although the plan is in line with President Barack Obama’s 2009 pledge to pursue the elimination of nuclear weapons.

No final decision has been made, but the administration is considering at least three options for lower total numbers of deployed strategic nuclear weapons cutting to: 1,000 to 1,100; 700 to 800, and 300 to 400, according to a former government official and a congressional staffer. Both spoke on condition of anonymity in order to reveal internal administration deliberations.

The potential cuts would be from a current treaty limit of 1,550 deployed strategic warheads.

A level of 300 deployed strategic nuclear weapons would take the U.S. back to levels not seen since 1950 when the nation was ramping up production in an arms race with the Soviet Union. The U.S. numbers peaked at above 12,000 in the late 1980s and first dropped below 5,000 in 2003.

Full article: AP NewsBreak: US weighing steep nuclear arms cuts (Associated Press)