Skip to comments.In 3 Months Fed Chair Jerome Powell Just Destroyed Trump Economy – Dow Lost Over $4 Trillion in Val
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 401ks dissolve into thin air.
The Dow Jones dropped 3,500 points since the Feds Jerome Powells 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 Feds Powell who then scared investors with his message that he will raise rates well into next year.
(Excerpt) Read more at thegatewaypundit.com ...
The Deep State ALWAYS WINS. We were always on borrowed time. 2 years was all Trump and we were going to get.
Fire this Rat mole now.
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.
Well....because he can.
The Dow is not the economy.
I predicted that right after the election. The Fed is not a friend!
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.
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.
You’re right. The Dow is not the economy. But screwing with it makes a dandy weapon to use to harm the economy.
Who appointed Powell?
This is disastrous for us retired people. The swamp is destroying Trump success out of their own greed.
Destroy the Fed/swamp.
Go soak your head. It’s not over yet by a longshot.
Nonsense. Interest rates couldn’t stay that low forever, and the stock market couldn’t keep climbing forever.
Can Trump fire Powell??
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.
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.
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