How bad boy
Full Member
Oh look. What a surprise he's going after the fed and insisting they drop interest rates:
Trump says Fed chair would resign if asked and condemns him over interest rates
President, whose tariffs has caused turmoil, said Jerome Powell is ‘always too late and wrong’ with rate policywww.theguardian.com
The ECB is expected to cut interest rates for the 7th time, and yet, “Too Late” Jerome Powell of the Fed, who is always TOO LATE AND WRONG, yesterday issued a report which was another, and typical, complete “mess!” Oil prices are down, groceries (even eggs!) are down, and the USA is getting RICH ON TARIFFS. Too Late should have lowered Interest Rates, like the ECB, long ago, but he should certainly lower them now. Powell’s termination cannot come fast enough!”
The last time inflation got out of control in the US, the fed, under Paul Volcker, had to raise interest rates to 21.5%, causing a 2 year recession and mass unemployment. Led to Jimmy Carter getting chucked out of office in 1 term.
The Trump administration is starting proceedings to criminally convict Powell for statements made to the Senate Banking Committee about renovations to the Federal Reserve buildings.
Powell not taking it sitting down:
"The threat of criminal charges is a consequence of the Federal Reserve setting interest rates, based on our best assessment of what will serve the public, rather than following the preferences of the President.
This is about whether the Fed will be able to continue to set interest rates based on evidence and economic conditions, or whether instead, monetary policy will be directed by political pressure or intimidation."
