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In 3 Months Fed Chair Jerome Powell Just Destroyed Trump Economy Dow Lost Over $4 Trillion in Val
GATEWAY PUNDIT ^ | 12/20/2018 | JOE Hoft

Posted on 12/20/2018 9:00:33 AM PST by bitt

Since October The Fed has single-handedly dismantled the US economy. The Trump tax cuts at year end 2017 set the economy on fire. The US stock markets set numerous records. So the Fed had to step in and kill the economy or, God forbid, he would get re-elected in 2020!

The Fed announced on Wednesday afternoon that they will increase rates and will also increase rates next year. The Dow immediately dropped 720 points in 10 minutes. The DOW was down at one point by 894 points!

The Fed is clearly a political machine not working in the interest of President Trump or the American people.

As a result of Fed policies Americans are being bound with massive interest payments on Obama debt for years to come while watching their 401k’s dissolve into thin air.

The Dow Jones dropped 3,500 points since the Fed’s Jerome Powell’s insidious comments in early October to continue to increase interest rates.

The DOW reached another all-time high on October 3rd reaching 26,829. It was up for the 103rd time since Donald Trump was elected President and 46% since the November 2016 election.

This was clearly too much for the Fed’s Powell who then scared investors with his message that he will raise rates well into next year.

(Excerpt) Read more at thegatewaypundit.com ...


TOPICS: Business/Economy; Extended News; Government; Politics/Elections
KEYWORDS: deepstate; dow; economy; fed; powell; trumpeconomy
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In 3 Months Fed Chair Jerome Powell Just Destroyed Trump Economy – Dow Lost Over $4 Trillion in Value – FIRE HIM ALREADY!
1 posted on 12/20/2018 9:00:33 AM PST by bitt
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To: Whenifhow; null and void; aragorn; EnigmaticAnomaly; kalee; Kale; 2ndDivisionVet; azishot; ...

P


2 posted on 12/20/2018 9:00:51 AM PST by bitt (new q thread)
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To: bitt

The Deep State ALWAYS WINS. We were always on borrowed time. 2 years was all Trump and we were going to get.


3 posted on 12/20/2018 9:02:14 AM PST by backwoods-engineer (Enjoy the decline of the American empire.)
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To: backwoods-engineer

Fire this Rat mole now.


4 posted on 12/20/2018 9:03:49 AM PST by gibsonguy
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To: bitt

Get rid of this idiot. Bring in Steve Forbes or someone who actually knows what he is doing. He is killing the “Trump economy.” Just what Democrats want.


5 posted on 12/20/2018 9:04:08 AM PST by donozark (There are no flamingos in Venezuela.)
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To: bitt

Why?
Well....because he can.


6 posted on 12/20/2018 9:05:08 AM PST by Cletus.D.Yokel (Catastrophic, Anthropogenic Climate Alterations: The acronym explains the science.)
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To: bitt

The Dow is not the economy.


7 posted on 12/20/2018 9:05:10 AM PST by DungeonMaster (Vote your bible.)
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To: backwoods-engineer
Hold the line!
8 posted on 12/20/2018 9:05:41 AM PST by Enigo54 (Hank Reardon was right)
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To: bitt

I predicted that right after the election. The Fed is not a friend!


9 posted on 12/20/2018 9:05:57 AM PST by JimRed ( TERM LIMITS, NOW! Build the Wall Faster! TRUTH is the new HATE SPEECH.)
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To: donozark

I love Steve Forbes. When he decided to run for president, he did not do well in the primaries. I was so disappointed, I thought he would make a great president. I still do. I think Forbes would be an excellent choice to head the Fed, if he would take the job.


10 posted on 12/20/2018 9:06:46 AM PST by erkelly
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To: babble-on; central_va

So maybe I’m not the only one who sees Powell as less then competent.

Or maybe he really is doing exactly what he was told to do.

Either way, ain’t good for us.


11 posted on 12/20/2018 9:08:01 AM PST by Regulator
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To: DungeonMaster

You’re right. The Dow is not the economy. But screwing with it makes a dandy weapon to use to harm the economy.


12 posted on 12/20/2018 9:08:38 AM PST by mewzilla (Break out the mustard seeds.)
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To: bitt

bttt


13 posted on 12/20/2018 9:08:42 AM PST by timestax
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To: bitt

Who appointed Powell?


14 posted on 12/20/2018 9:08:45 AM PST by Bonemaker (invictus maneo)
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To: bitt

This is disastrous for us retired people. The swamp is destroying Trump success out of their own greed.

Destroy the Fed/swamp.


15 posted on 12/20/2018 9:09:25 AM PST by mountainlion (Live well for those that did not make it back.)
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To: backwoods-engineer

Go soak your head. It’s not over yet by a longshot.


16 posted on 12/20/2018 9:09:39 AM PST by DarthVader (Not by speeches & majority decisions will the great issues of today be decided but by Blood & Iron)
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To: bitt

Nonsense. Interest rates couldn’t stay that low forever, and the stock market couldn’t keep climbing forever.


17 posted on 12/20/2018 9:11:19 AM PST by mlo
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To: bitt

Can Trump fire Powell??


18 posted on 12/20/2018 9:11:54 AM PST by eclectic (Liberalism is a mental disorder)
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To: bitt

First, the Fed is a bad institution that should be killed off.
Second, they did NOT destroy any wealth. By lowering interest rates artificially, the Fed drove up pricing in real estate and stocks etc. This is not real wealth.

There is a real rate of interest. It’s probably in the 7-8% range, but I don’t know. The Fed can push everyone into bonds by keep pumping up the rate, then the bond holders will be “wealthy”.

Meanwhile, Congress has been spending so much that a large interest increase will bankrupt the country. The true value of assets is only determined when the Fed stops manipulating interest rates and lets them float.


19 posted on 12/20/2018 9:12:01 AM PST by cowtowney
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To: bitt
And steroid testing destroyed baseball by eliminating the chance of a hundred home run season.

Interest rates were kept too low for too long. They are finally returning to sane levels. Is it rough if your investments require the stock market to be perpetually juiced? Yes, but it has to be done.

20 posted on 12/20/2018 9:12:10 AM PST by KarlInOhio (Leave the job, leave the clearance. It should be the same rule for the Swamp as for everyone else.)
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