Trump went after Jerome Powell again today with Swipes at Fed for Raising Rates and a Too Strong Dollar.
“I want a dollar that does great for our country, but not a dollar that’s so strong that it makes it prohibitive for us to do business with other nations and take their business,” Trump said.
He didn’t mention Powell by name, but referenced “a gentleman that likes raising interest rates in the Fed, we have a gentleman that loves quantitative tightening in the Fed, we have a gentlemen that likes a very strong dollar in the Fed.”
“Can you imagine if we left interest rates where they were, if we didn’t do quantitative tightening,” Trump said. “There’s no inflation,” he added.
December 24 Snipe
CPAC Video
Mike “Mish” Shedlock
This will not end well regardless of who wins in 2020.
We still have a very strong job market with over 200k jobs a month some have seen 300k rise in payrolls. How can this not end well when consumer expectations and confidence as measured by conference board at near record high
Was hoping this guy wouldn’t behave like a career politician and do the right thing regardless of the impact on his possible re-election but all of the power of the presidential office not to mention the dead presidents going into his back pocket must be addicting. He’s already toast if the economy blows up before the 2020 elections since he was dumb enough to own it
😊😊😊😊😊😊
I don’t understand why you insist on playing this dumb game. Everyone here (well, except maybe Realist) knows our financial realm is a giant ponzi scheme. The best thing for conservatives would have been an implosion early in Trump’s term that he couldn’t be blamed for. The longer this charade goes on, the easier it is to frame everything on Trump and the MAGA crowd.
Of course, even the blame game is dumb because our problems transcend American politics and both parties are hopelessly corrupt, but if you want to play the game you should at least try to win! You’re not seriously claiming the American (or global) economy is healthy, are you?
I guess 2banana hasn’t figured out the asset inflation is being caused by the Central Banks to counter strong deflationary trends to keep the massive amounts of debt secured by these assets solvent. The kicker: the tools to keep this mechanism in place are dwindling quickly
Another post by the paid astroturfer 2banana who also posted pro trump narrative on other sites.
Manufacturing jobs have rushed back to America under Trump.
With a lower dollar, it will turn into a flood.
A lower dollar lowers the real incomes of manufacturing, and other, workers. Hence their purchasing power. Making them poorer. More desperate.
Keep at it, and you will no doubt arrive at the progressive utopia of zero “unemployment” and lots of “jobs.”
Just as in Zimbabwe. Where absolutely everyone have 16 hour a day, 365 days a year jobs, each paying the equivalent of an empty coke can a day. Doing such meaningful manufacturing work, as patching together shacks from stuff they can scavenge from trash heaps.
Hardly a case of “rushed back”, more like a steady climb continues at about the same pace as the prior 8 years.
Have you looked at the accelerating Farm bankruptcies in the last few years – our farmers are really hurting – Wisconsin lost almost 700 farms in 2018 and it is bleak out there. This is the sad downside of the steel tariffs.
What type of animal is that? Is some of hybrid dog the women has in her hands?
It is a calf – my guess is that in WI they need to keep them warm in the winter months.
“Hardly a case of “rushed back”, more like a steady climb continues at about the same pace as the prior 8 years.”
The far right of the graph looks like it is going up at a faster rate, hence the Forbes comment.
I’d point to the steep growth in 60’s, 70’s and 80’s as “rushed back”. The growth is pretty much geometric since 2009.
The tariffs are only about a year and you stated a few years. Something else is missing here,
Fair point, but wouldn’t it be fairer to lift them up? Canada is imposing production controls to try to stop the “tragedy of the commons” – we are castigating Canada for not taking our overproduction – but there are times when the market is too brutal a mistress.
I just read the story and its horrible and tragic. I am sure the governors calling for more production wasn’t helpful, as usual. It would nice to do a postmortem on this and figure out what could have been done to avoid this. I am thinking like a milk “opec” where they figure out what production and prices should be.
only the most ignorant and shameless paid astroturfer would spread lies about ‘economy is great’ ‘unemployment lowest’ ‘manufacturing return to US’..
if you want to post such garbage , post it on zerohedge where pro trump trolls gather around
It only happened in the news and nowhere else that I know of.
As if the interest rate paid on $23 Trillion in FedGov debt is just a matter of choice.
This will not end well, and the end will come a lot sooner than most people think.
I loved talking to a know it all relative, one that’s not slow to remind you she’s educated, that everything is “ok” because we can still make interest payments. I’m still partially cross eyed from the conversation.
He truly is an idiot at times. He has to know what he is saying is asinine. I suppose his motivation is to keep the casino solvent until the next election.