Ex-Fed Chair Volcker: Trump administration not on a constructive track

Dhwani Mehta FXStreet

Former Federal Reserve Chairman Paul Volcker told Bridgewater co-chief investment officer Ray Dalio, in a podcast video released on Tuesday, he is unhappy with the Trump administration’s handling of domestic issues as well as trade talks with China, as it is hurting the US’ long-term prosperity, Reuters reports.

Key Quotes:

“We have not been on a constructive track.”

“I think that’s fair to say.”

“We rammed through a massive tax bill. Whatever you think about that tax bill, it shouldn’t have been rammed through Congress without any debates at midnight on Dec. 31.”

“The true test of good government is its ability to administer” which “we lapse in.”

“It sounds terrible but I respond more favorably to what the president of China is saying than the president of the United States.”

“The president of China, at least, says he’s looking forward to a harmonious relationship over time...But looking for peaceable outcomes, where we are all threats and demands, so it’s a different story being told.”

Author

Dhwani Mehta

FXStreet

Residing in Mumbai (India), Dhwani is a Senior Analyst and Manager of the Asian session at FXStreet. She has over 10 years of experience in analyzing and covering the global financial markets, with specialization in Forex and commodities markets.

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