This CNBC article really shows his dementia is breaking through. Trump has changed his position on rate cuts 3 times in 3 weeks. Seems like he can’t remember what he said yesterday and keeps changing his mind, or maybe the real President Elon is changing it for him. Anyway, he sounds desperate, like someone just told him the reality of how the “pain” and “hardship” they promised for Americans is going to affect him as the puppet of Elon’s presidency. At least he’ll probably forget this by tomorrow… Trump says interest rates should be lowered to go 'hand in hand' with his tariffs
Tariffs causing additional inflation, what are interest rate cuts supposed to do? Stimulate more inflation on top of inflation?
Hopefully Jay Powell won't give in to pressure from Trump the way Arthur Burns gave into pressure from Richard Nixon in 1971 and 1972. After resisting at first Burns gave into Nixon and lowered interest rates to juice up the economy. Inflation was kept low through wage and price controls giving Nixon a landslide victory in the 1972 presidential election. When the wage and price controls were lifted in 1973 we experienced two years of double digit inflation followed by the most severe recession since the 1930s. It was at that time the term "stagflation" was coined since the economy slowed down while inflation was still high, a phenomenon that economists were saying couldn't happen until it did.
Trump will have sycophants in Bureau of Labor Statistics, we won’t see actual inflation stats going forward. This recent report he’s blaming on Biden.
