Trump: Fed is 'biggest risk' to U.S. economy
Source: Politico
By VICTORIA GUIDA 10/23/2018 09:44 PM EDT
President Donald Trump delivered some of his most pointed attacks yet on Federal Reserve Chairman Jerome Powell on Tuesday, calling the central bank the biggest risk to the U.S. economy. In an Oval Office interview with The Wall Street Journal, Trump said Powell almost looks like hes happy raising interest rates.
Every time we do something great, he raises the interest rates, Trump said. Asked if he regrets appointing Powell, he said it was too early to tell, but maybe.
Trump said he didnt know under what circumstances he might attempt to remove the Fed chairman but added: Im very unhappy with the Fed because Obama had zero interest rates.
The presidents comments came amid another volatile day for the stock market. A couple of weeks ago, when the three major equity market indexes dropped more than 3 percent in a day, Trump said the Fed had gone crazy.
Read more: https://www.politico.com/story/2018/10/23/trump-fed-biggest-risk-economy-884242
joshdawg
(2,648 posts)Fixed it for him.
workinclasszero
(28,270 posts)And the free world in general!
machoneman
(4,007 posts)policies, like that yuge tax cut for the rich, that's causing the Fed to act the way is has?
MrScorpio
(73,631 posts)bronxiteforever
(9,287 posts)This should play out well. Trump is smarter than all the economists in the room. He will tell you so.
A POTUS who sows lack of confidence in the economics of the country will inherit the whirlwind.
Everything he touches, he destroys train is scheduled to stop next at Wall Street.
ProfessorGAC
(65,076 posts). . .that the current policies have NOTHING to do with the current strength of the economy and the fed is bracing for a downturn CAUSED by the current policies.
Hence, "it" is upset that they are throwing cold water on his party goers.
bronxiteforever
(9,287 posts)Iliyah
(25,111 posts)acknowledges that shithole/GOP's economy is failing them big time . . . .
Where is the corporate media on this??????
The Liberal Lion
(1,414 posts)but we already knew this. Dear orange idiot, when you foolishly produce a tax cut that was unnecessary, that itself overheats the economy the Fed has to raise rates to keep inflation at bay and to keep our fiat currency from being devalued. Further, Mr. orange moron, when your ill advised and unnecessary tax cut creates massive budget deficits, the Fed will increase rates in order to attract investors to the bonds that must be issued in order to pay for stupid, nonsensical things like your wall (that is never going to be built), and your silly military buildup. Consider yourself educated Mr. Wharton.
Anza404
(34 posts)But the Fed typically lowers interest rates during a downturn to keep the free flow of cash going and in a booming economy increases them to put a check on inflation and to stop it from ballooning out of control and bursting.
If what i think is true seems it is just more blaming game to avoid more light being shed on drumps failed economic policies the baby cannot handle the truth.
The Liberal Lion
(1,414 posts)Guy Whitey Corngood
(26,501 posts)fan and he's setting up the blame.
turbinetree
(24,703 posts)silver spoon asshole, that stiffed mom and pops, and bankrupted casinos, and then ran around defrauding states of tax on a ponzi scheme selling apartments and over billing the scam through a fucking company well to over bill and not do shit.......................with the help of criminal family members.................your one to talk asshole about being a RISK".......now with your other "investments of owning fucking oligarchs money............you can be "BLACKMAILED" and you say my federal reserve can be a "big risk"........................and the next item on your list of lies, is your asshole majority controlled house and senate going after our money placed in trust funds called ( Social Security, Medicare) to pay for tax cuts.............................you can go FUCK YOURSELF, they can go FUCK THEMSELVES................traitor........................
karynnj
(59,504 posts)Or more accurately very low interest rates. What Trump ignores is that Obama took office after a September through January that was terrifying nearly 50% drop in the stock market and - more important - a huge increase in companies failing and people losing jobs. Those are EXACTLY the circumstances when most economists would call for both stimulative monetary policy (lowering interest rates, expanding the money supply) and simulative financial policy (the stimulus package Obama got through -- or, better yet, something bigger whicg the Republicans made impossible.)
Not to mention, the current interest rates are still historically on the low side. This is NOT the late 1970s and early 1980s when you could actually get a totally riskfree treasury bond at a local bank that gave, I think, as much as 16 percent interest! (Looking at the chart, look at what Jimmy Carter faced in the run up to 1980.)
Here is a graph - showing the current rates are still historically low - https://www.macrotrends.net/2015/fed-funds-rate-historical-chart
lark
(23,105 posts)He also conclusively shows that, yes martha, he is indeed a crying, whining, pooping in the pants - giant orange baby. OMG, I can't believe he whined that Obama got 0% interest so he should too! That's just about the most stupid thing I've ever heard from him, and he tells gigantic stupid whoppers every day.
Cold War Spook
(1,279 posts)Don't worry Trump, when the economy tanks, the fed will lower interest rates.
ProfessorGAC
(65,076 posts). . .provide evidence that this strong economy is still Obama's economy!
Yavin4
(35,442 posts)The Fed has to raise interest rates for the good of the economy. Otherwise, there will be inflation and massive speculative bubbles (see Crypto Currencies).