Bloomberg reports Trump Steps Up Fed Pressure With ‘Gone Crazy’ Jab After Sell-off.
President Donald Trump slammed the Federal Reserve as “crazy” for its interest-rate increases this year in comments hours after the worst U.S. stock market sell-off since February.
“The Fed is making a mistake,” he told reporters on Wednesday as he arrived in Pennsylvania for a campaign rally. “They’re so tight. I think the Fed has gone crazy.”
This is fresh on the heels of what I said yesterday in Trump Goes After Fed but Proclaims “I Don’t Want to Meddle”: Trump Translated
Three-Point Translation
- I said I don’t want to meddle, but I really do.
- I am worried about the stock market.
- Please don’t sink the stock market before the midterm elections or I may get really nasty.
Mike “Mish” Shedlock
It’s a simple formula and its been done before… put a patsy in charge when things aren’t going so well. Then there is always someone to blame when it all goes pear shaped. The practice of modern democracy, particularly in the USA, is about exerting control through clientelism.
All Democracy. For all time. Not just modern and the US.
Because democracy is simply yet another attempt at pretending that “if we only do government right, government doesn’t have to be so bad.”
While in reality, government IS bad. Period. Some people being designated Massa, others Nigga, without the latter having the option to opt out of the arrangement, always is. No exception, ever.
Hence the Founders’ focus on limiting government. Not on making up all manners of rain dances, “statistics,” bread and circuses and dimpled chad rituals which would somehow make it OK that it was no longer limited.
Like many other people, including Mish, presidents often disagree with Fed policies.
i assume you mean the greatest ponziconomy ever
Mr. Market to new Fed Chair: “Testing. Testing. 1 – 2 – 3. Testing.”
The only difference here is that we have a President who likes to prod the peanut gallery into jeering and cheering on cue.
trump simply wants what Obama had….permanently low rates (forever n ever),permanently rising stock market (straight up in perpetuity)permanently low unemployment “rate”,permanently rising gdp growth “rate”(forever n a day),permanently low inflation “rate”…..is that too much to ask?
There’s a difference between being too tight and no longer being way too loose. He fails to see the upside to higher rates. People who save and people who want to buy homes and don’t need to borrow a lot benefit. In other words, the responsible ones benefit.
You are not supposed to save money to buy things. You should always borrow from the bank to show society that you are now a “grown-up”, taking on your adult responsibilities, and are a vital part of the community!
I think you borrowed that from somewhere!
Only the best people!
Trillion dollar deficits in the greatest economy ever? The Fed aren’t the only ones who are crazy. Look in the mirror you stupid jackass.
TRUMP is RIGHT AGAIN… I hope he backs the Senate into voting for S. 26, The Federal Reserve Transparency Act.
“TRUMP is RIGHT AGAIN”
And here was he also right?
“GOP presidential nominee Donald Trump told CNBC on Monday the Federal Reserve is doing what President Barack Obama wants by keeping interest rates low.
Fed Chair Janet Yellen and central bank policymakers are very political, and Yellen should be “ashamed” of what she’s doing to the country, Trump said, adding the Fed is not even close to being independent.
By keeping interest rates low, the Fed has created a “false stock market,” Trump argued in a wide-ranging interview in which he also talked about Democratic nominee Hillary Clinton’s health problems”
LoL
Trump was right when he said that.
99% of economist, Fed members, and talking heads have no idea what’s taking place, why would Trump?
So, this means there’s an outside chance that Trump could abolish the Fed. One can only hope.