Trump wants a Direct Role in Determining Interest Rates

One of his Wharton professors called Trump the dumbest student he ever had.

Trump Shared a Fake Quote From His Professor Who Actually Thought Trump Was "The Dumbest" - MeidasTouch News (meidasnews.com)

 

Hopefully, you’re being facetious, because it’s hard to imagine a statement less compatible with the core principles of American governance.

 

Trump lied about something? I find that shocking.

 

So basically, Trump is admitting that Biden had nothing to do with the higher interest rates.

Great strategy... lets see how it works for him.

 

Bar is pretty high to break into top 3.

1. Nuking Hurricane
2. Injecting Disinfectant
3. Buying Greenland

 

Or shoving a uv light up his ass

 

5. Hanging his VP

 

True, but if Trump got control of the interest rates you're talking an instant crash of our economy based on that news alone.

 

Any thoughts on Trump controlling interest rates? You cool with that?

 

In all seriousness, the Fed has been proven to be very inefficient. They all sit back and react and by the time they do something, the damage has already been done. It could easily be argued the Fed induced the Great Recession of 2008-2009 by raising interest rates 17 times prior to the subprime crash.

 

Yep, like only people taking Liberal Arts majors get their student loans forgiven?

 

moron!

 

LMFAO! And you think Kamala is smart and worthy of being president? You and everyone here are taking this exercise in who is more qualified to the lowest common denominator..

Tell us what makes Kamala is dammed qualified to be POTUS? Trump is a proven leader... while Kamala is the lowest common denominator OUT of ALL THE DEMS that ran to become the 2020 Democrat to run for president.

Your gal was dead last in the Democrat primary. So... your words about Trump are as empty as Kamala's head.

 

Does this change what the professor said?

 

It's a nothingburger... You're right, it changes nothing because it means nothing.

 

You don't have to get all huffy to have a rational conversation about this. The root of subprime were the ARMs that had predatory prepayment penalties. When the Fed began raising interest rates, mortgage payments went up very quickly for those homeowners, which led to widespread default. If rates had stayed relatively the same through that time period, it's unlikely the crash would have been so precipitous. That is not to say the Fed shouldn't have raised interest rates, but when you raise interest rates 17 times in a row, that indicates the rates were probably too low to begin with and never should have been that low. So the Fed essentially fueled the subprime boom with rates that were too law and then brought the house of cards down with 17 straight rate increases.

 

Without looking (having missed that part of Trump's news conference), I can almost assuredly say Trump wasn't proposing that he have dictatorial powers over the Fed. He was proposing more influence, yes. And if we look at the record, Trump was screaming for the Fed to lower interest rates for weeks when Covid arrived here and Powell finally did a half-point emergency cut, which proved to be useless as we would all later find out. So at least in that instance, Trump was obviously way out in front of the Fed on how to handle that crisis. That doesn't mean I'm ready to hand him dictatorial power over the Fed, but this forum has a way of misstating positions and taking things out of context.