WASHINGTON, D.C.-- President Donald Trump's tweets on The Federal Reserve have had a 'significant effect' on markets. That's according to a new study by The National Bureau of Economic Research.
The report says the actions are prompting investors to bet The Fed will lower interest rates as the President has repeatedly demanded on Twitter. The week of Sunday, September 15, President Trump accused The Fed of having 'no guts, sense, or vision.' It came after The Fed cut rates for the second time this year.
The group is supposed to be independent from politics, but have they been? Investment Adviser Mark Grywacheski joined us Monday, September 30 to discuss the topic. He also talked about how the impeachment inquiry into President Trump has not affected the stock market. He says anything passed by the Democratic controlled House will be dead on arrival in the Republican controlled Senate.
"Even with Nancy Pelosi's formal inquiry Tuesday, [September 24] we continue to see no relevant impact to the stock market," Grywacheski said Monday.
He added the bigger problem right now is the highly partisan political environment the country's in, where no legislation's passed at all.
Your Money with Mark Grywacheski airs every Monday in between 5 and 5:30 a.m. during Good Morning Quad Cities. To live stream our newscast, click here.