Trump ramps up attacks on Powell, demands 'loser' Fed chair lower rates 'NOW' President Donald Trump ratcheted up his pressure campaign on Federal Reserve Chairman Jerome Powell. Trump on Truth Social called Powell a "major loser" and warned that the U.S. economy could slow down unless interest rates fall immediately. Trump and his team are studying whether they can legally fire the central bank leader before his term is set to expire.
Trump is desperate. He’s crewing up the economy and wants someone to blame.Incoherent, incompetent and vindictive.
Europe has higher inflation rates that we do, and still their ECB has cute rates several times since we last cut. Powell knows he's getting fired, and he's playing games with our economy.
Powell has not been good. Much too slow to react. Flooded markets too much during Covid, kept them too low for too long, and waited too long after inflation got hot to begin raising rates. I’m not big on presidents or elected politicians calling the monetary shots, but that doesn’t mean that Powell isn’t very good at his job
https://www.wsj.com/finance/investing/dow-jones-stocks-worst-april-1932-74fe82ac People with much higher levels of understanding than MAGA Too Hot posters disagree. YOU OWN THIS… # “The Donald Depression”.
Why does Trump keep nominating people that he eventually wants to fire? Does he not know how to spot talented and competent people?
FALSE. Congress flooded the markets with stimulus in the form of money for everyone with no rhyme or reason. The President at the time signed that bill and even delayed the measure in order to have his signature on the checks. All at a time when little to nothing was being produced causing supply side shortages. Powell had to react and actually delivered a soft landing to the recession that was already underway. We can debate his timeliness, but the cause is directly due to the current president and Congress. # “The Donald Depression”
That's not really what happened. The stimulus replaced falling output. there was no increase in GDP during covid due to stimulus. Demand was still down. Less money was chasing far less product. We still havent returned to selling the number of cars pre-covid. Its supply. The pricing started to rise when people started going back to work and shopping and there was a year lost of world production. Even at the simplest level, the world had far worse results than the US and not everyone was affected by the US congress and president.
President Trump is like a child who walks into a funeral and screams that the place needs more bright colors and upbeat music. So little appreciation or respect of the larger situation that he’s in.
Sure, we had less inflation than the rest of the industrialized countries, he delivered a soft landing, and now that Trump’s policies have spiked the 10 year t bill that the Fed doesn’t control its Powell’s fault? Are you really going to fall for this nonsense?
This reminds me how Trump blamed, and still continues to blame, Fauci for his own mishandling of COVID. Trump single handedly wrecked the economy and wants someone else to blame. Begging for rate cuts is an admission he knows he messed up, but the Fed now has to balance the crashing economy with rising inflation — both caused by Trump.
Obviously you and your Dear Leader are seriously lacking when it comes to a knowledge of US economic history, the last time the Chairman of the Federal Reserve acquiesced to the President was in 1972 when Arthur Burns lowered interest rates after being bullied by Richard Nixon to do so. The immediate impact was a landslide victory by Nixon in 1972 followed by years of on again off again stagflation. Crisis at the Federal Reserve: Arthur Burns and the Stagflation of 1973-75 - Case - Faculty & Research - Harvard Business School The Fed Whiffed on Inflation in the ’70s. It Doesn’t Want a Repeat. The perils of a political Federal Reserve At the president's behest, Mr Burns cut interest rates just when they should have been increased, leading to a US economic boom ahead of the 1972 election. While it helped get Mr Nixon re-elected, that boom then transformed into a toxic combination of stagnant economic growth and rampant inflation - also known as "stagflation" - that took decades to bring under control. (Mr Burns also served under presidents Ford and Carter until he stepped down from the Fed in 1978.)
No, actually, they don't have a higher inflation rate than we do. Last I check 2.2% is lower than 2.4%. Euro Area Inflation Rate United States Inflation Rate We were lower before Trump showed up, but we are higher now.
And the impact of Trump's tariffs as well as the lower value of the dollar have yet to have an impact on prices. Only a matter of time before the US experiences its highest inflation rate in three years. Trump could become the first American president to experience an approval rating under 40% after being in office less than a year.
Despite the inflation from late 2021 through mid-2022 following the Covid shutdowns the US has had the best economy of any advanced industrialized country including Japan and the countries of the EU. Using normal metrics Powell has been the best Fed Chair since Paul Volcker.
